From Financial Highway:
Are we about to see the end of free checking? There are indications that free checking may be on the way out. With overdraft fees capped in the U.S. by a recent bit of financial reform legislation, banks are looking for ways to keep the revenue coming in.
One of those ways to take free checking accounts and start adding fees. Last year, one of my banks accounts announced $9 monthly fee on my checking account if I didn't maintain a certain balance. Since I had only opened the account because it was required to get a high yield savings account, I pulled all my money out and closed both accounts.
My experience isn't abnormal, though. The New York Times
cites a study from Bankrate.com that found...
Read full article...
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