This from the illustrious Bank of America, C.E.O.:
Bank of America's CEO defended his bank's new $5 fee on debit cards on Wednesday, saying that customers and shareholders understand the bank has a "right to make a profit."
Yeah, they have a right but you also have a right to move your money. And look, Citibank joining the "greedy club", right along with Bank of America:
Starting in December, customers who hold its mid-level Citibank Account will be charged $20 a month if they fail to maintain a minimum balance of $15,000 in their combined accounts. Previously, account holders had to carry a minimum balance of $6,000.
And it gets better....
At the same time, customers who have the bank's EZ Checking account will start being charged $15 a month if they don't carry a minimum balance of $6,000. Citi says it is phasing out the EZ Checking package, which currently carries no monthly fee for balances over $1,500, and is instead offering customers either the Citibank Account or its Basic Banking account, which also carries a fee.
So, in other words unless you are financially set, no worries, not living pay-check to pay-check, you don't have to worry about these insignificant fees. But if you are living pay-check to pay-check (which is the majority or America), Citibank is about to financially screw you royally.
Aren't you tired of this shit yet?