Checking Fee Roundup: Nine Banks That Changed Prices<TAB>
July 17, 2012 8:56 AM
More Fees: Bank of America
B of A has taken a lot of heat over its checking account fees in the past year, first for its failed $5 debit card fee in October and then for implementing planned changes to its checking account fees in March. (Image: Bloomberg News)
Free Checking Redux: TCF Financial<TAB>
After cutting free checking for some customers in 2010, TCF announced it was restoring the offering last month, after surveying its customers.
More Fees: Citigroup
Last September, Citi cut its debit card rewards and raised its fee for its basic account to $10 from $8, unless customers maintain a minimum balance or meet other thresholds. (Image: Bloomberg News)
Free Checking: Huntington
Huntington rolled out its free checking account , with no monthly fee, direct deposit requirement or minimum balance in May 2011, as part of a strategy to attract customers fed up with new account fees.
More Fees: Wells Fargo
Wells in March said it is expanding a pilot program to charge $7 for its basic checking account if customers don't meet a minimum balance or direct deposit requirement. (Image: Bloomberg News)
More Fees: U.S. Bank
U.S. Bank rolled out a new $8.95 monthly fee (or $6.95 a month for paperless statements) for its basic checking account in May 2011 if customers don't meet thresholds for direct deposit or have a minimum balance.
Higher Bar: SunTrust
Starting in August, SunTrust will raise the minimum balance required to avoid a monthly checking account fee to $1,500 from $500. The bank canned free checking last summer, requiring customers to either meet a minimum balance or a direct deposit requirement.
More Fees: Citizens
Citizens raised its fee to $9.99 from $4.99 for its basic checking account this spring. Consumers can avoid it by maintaining an average daily balance of $1,500 or by making five payments from the account per statement period.
More Fees: BB&T
BB&T replaced its "Free Checking" account with a "Bright Banking" account last April, charging $10 a month unless customers meet certain direct deposit or minimum balance requirements or have a mortgage with the bank.
