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Banks Are Quietly Ramping Up Costs to Consumers

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Eric Dash
NY Times
November 14, 2011

Even as Bank of America and other major lenders back away from charging customers to use their debit cards, many banks have been quietly imposing other new fees.

Need to replace a lost debit card? Bank of America [BAC 6.11 -0.10 (-1.61%) ] now charges $5 — or $20 for rush delivery.

Deposit money with a mobile phone? At U.S. Bancorp [USB 25.7568 -0.1832 (-0.71%) ], it is now 50 cents a check.

Want cash wired to your account? Starting in December, that will cost $15 for each incoming domestic payment at TD Bank [AMTD 17.02 -0.11 (-0.64%) ]. Facing a reaction from an angry public and heightened scrutiny from regulators, banks are turning to all sorts of fees that fly under the radar. Everything, it seems, has a price.

Full article here

This article was posted: Monday, November 14, 2011 at 9:12 am





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