Save on Bank Fees this Year
Consumer Reports recently published an article on upcoming bank fees that consumers can expect to pay in 2012. If you want to save on bank fees in Indianapolis, consider becoming a member of Financial Center.
Here's an excerpt from the article detailing what industry experts think you will see in the coming months:
- Fee hikes and tougher account requirements will probably continue, especially while the economy remains weak. For example, some banks, like Chase and PNC, are now charging a $25 fee even to close certain accounts.
- Customers with a lot of accounts at one bank might avoid some fees, but they're not immune. Banks may try a spectrum of charges even for good customers, including fees for paper statements and higher safe-deposit costs.
- You're more likely to find lower fees and better rates at community banks, larger credit unions, and online institutions.
Check out this comparison to bank and credit union fees:
When evaluating your banking choice, remember that you can save money on fees and earn a better rate when you bank with a credit union.