Bank fees could get you in the end
For the last 10 years, bank fees have been going up consistently. Scott Jagow talks to Bankrate.com's Greg McBride, who tells us where customers are getting stung the most.
Bank counter (iStockphoto)
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From Apopka, FL, 11/17/2008
Did not hear any mention of the on-line banks that pay interest on checking accounts. ING is an example and I use Charles Schwab, no min ballance, unlimted check writing and 1.5% apy on my account. The only issue with online banks is that they are really designed for direct deposit because in the case of Schwab, there only branch is in Reno, NV. To solve this I still have my local CU account open and conduct banking there and transfer the money to Schwab (takes 2 days). Yes it is a two step process, but 85% of my banking is direct deposit and on-line bill pay which Schwab has, FDIC insured and 1.5% is free money. Just a thought.
From salem, NY, 11/16/2008
re bank fees: at my local bank I have "free"checking because I use direct deposit for my social security checks. But I found that checks cost over $20 for a box! This could add up if you need to write many checks.
From Bristow, VA, 11/15/2008
One of the things that I did not hear in the report was the taxes that might have to be paid on the interest that is earned of an interest bearing checking account.
From san diego, CA, 11/15/2008
bankeer and lenders are to greetty thats wy the economy is the way it is this people make a Billian, wile I work full time and make 23.000 per year and have 2 children to support the mortgage payment take more than 60% of may earnings shame on them. I will like to see low income families in better shape that every family have their imidiate needs met.
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