Here on the Ally Bank Straight Talk blog, we believe it’s important to keep you informed on all the new banking fees popping up across the industry. If you’re anything like us, your first reaction to these fees is probably something like, “Are you kidding me?”
But unfortunately, they’re no joke. We made a list of new bank fees we came across that we found hard to believe. While we wish we could end the list with a happy proclamation of “April Fools!”, these announcements are the real thing.
– The Wall Street Journal has a report on the increasingly common practice of banks adding a monthly maintenance fee to their customers’ checking accounts.
– If that wasn’t enough, Walletpop points to the startling fact that some big banks are getting rid of their debit rewards programs.
– Speaking of your debit card, a post on Get Rich Slowly talks about how some banks are considering putting a limit as low as $50 on debit card purchases. If your transaction is anything above that limit, you’ll have to hunt down an ATM.
– Did we mention it’s going to cost more when you find that ATM? Bankrate reports the average cost of using an ATM in 2010 is $2.33, up from $2.22 in 2009. The average fee your own bank charges you for using an out-of-network ATM is also up from last year, jumping from $1.32 to $1.41.
– Even if you don’t have to visit the ATM, another report from the Wall Street Journal talks about how some banks plan on charging annual fees of up to $30 for debit card usage.
Have you run into any of these fees recently? Which one do you find it hardest to come to terms with?