The Fee Hand of the Market 0
Is free checking on the way out? McClatchy reports:
The loss of free checking means that unlike in the recent past, more customers will have to maintain minimum balances, agree to write only so many checks a month, or receive their monthly statements electronically to avoiding paying monthly fees on their checking accounts.
If I recall correctly, when I got my first checking account, it came with a $.10 per check fee. Later on, I moved to a bank with an “average minimum balance” account.
I don’t particularly like fees, but I’d rather see them than the kind of under-handed games that banks were playing to run up overdraft and other penalty fees.
I would much rather knowingly pay for a service I’m using than have my pocket picked.
