Fed Move Could Force Banks to Charge Consumers for Deposits

[Truthiseternal1]

http://www.moneynews.com/Personal-Finance/banks-federal-reserve-charge-customers/2013/11/26/id/538756

 

[Wulk]

Who are the banks trying to kid? They loan out $20 plus for every dollar that gets deposited with them.

What bank charges do Americans have to pay? I've heard that you get charged for writing a cheque, having a current account, withdrawing money - surely not.

 

[Truthiseternal1]

Who are the banks trying to kid? They loan out $20 plus for every dollar that gets deposited with them.

What bank charges do Americans have to pay? I've heard that you get charged for writing a cheque, having a current account, withdrawing money - surely not.

And they are now considering in charging a fee everytime you make a deposit in your savings or checking acccount.

 

[Wulk]

In the UK it costs me nothing to write a cheque, there are no charges for depositing funds, or withdrawing them. The only charges are for unauthorised overdrafts. They did try making a charge for withdrawing funds from an ATM; the British public screamed blue murder and that idea got scrapped. We are also in the process of putting a ceiling on bank bonuses and golden handshakes on leaving a top job.

You lot want to wake up, get an on-line petition going, get enough signatures and the politicians will have to take notice or risk losing votes.

 

[bdtex]

http://www.moneynews.com/Personal-Finance/banks-federal-reserve-charge-customers/2013/11/26/id/538756

All the more reason for consumers to join credit unions.

 

[Wahbooz]

I hate to break it to you guys, but I have free checking. I don't buy checks, I don't pay for a monthly statement, there are no service fees.

 

[Wulk]

Surely no-one pays for a monthly bank statement, Wahbooz?

 

[Wahbooz]

Oh sure, a lot of banks charge monthly service fees, including a monthly bank statement, Wulk. Many banks require a healthy minimum balance, in a checking account, to forego that. It's called totally free checking, and I have it on two checking accounts.

 

[Wulk]

What if you forgo a monthly written statement and just use on-line banking, as I do, surely that is free?

 

[Wahbooz]

What if you forgo a monthly written statement and just use on-line banking, as I do, surely that is free?

That's a good question, Wulk, I have no idea. Since all my banking is free, why take a chance the security isn't bullet proof on their website. Even with JP Morgan Chase, their network security could be breached, and I'd rather no one know how much I have with them.

 

[Wulk]

Ah, you got all your ill-gotten millions well hidden away.

 

[Wahbooz]

Ah, you got all your ill-gotten millions well hidden away.

Haha, tsk tsk, Wulk. Hard Earned.....