In a day and age when we’re all trying to make a dollar go farther, it’d be nice to get a little help from the bank.
Increasingly, though, the nation’s biggest lenders are looking for new ways to take money out of your pocket. Last year’s attempts at monthly fees for debit card purchases may have failed, but more and more banks are making customers jump through hoops to keep their checking accounts fee-free.
And largely forgotten in all of this are perhaps the most pernicious banking penalties of all: Overdraft fees. Despite two-year-old federal rules meant to rein in these fees, banks are still making a lot of money from them.
Greg Daugherty, executive editor of Consumer Reports, has the lowdown on these fees and how you can avoid them.