Are your banks fees going up? Across the board, many banks are charging more fees to their customers. This in big part is due to the laws that were enacted back in 2008-2009 to “help” the consumer. Most recently legislation had capped debit card fees pushing the banks to find other sources of revenue. Your bank may be doing the same – are you aware?
Several have asked me what they can do. I have shared that you need to talk to your bank and see of there are other account types that you may be placed in to avoid the fees. What I have been told in the past is that there are not, but it never hurts to ask. If you truly love your bank, you can also eat the costs….
If that does not help, the next thing you can do is find another bank. Yes, there are other banks out there. You will typically find the local community banks have lower fees, if any, and are much more focused on customer service.
Finally, what about your credit union? Your place of employment may offer one and there may even be one in your community. Credit unions are a great place to bank.
What other options are you trying?
