Banks Threaten To Charge You For Saving Money

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   Stacie Lposted 10 years ago

   In an effort to protect their record profits, banks might soon charge you for the privilege of having a savings account.
   
   I know what you're thinking: Banks already charge customers outrageous fees for the privilege of having bank accounts. But if the Federal Reserve dares to try and help the economy by cutting a special interest rate it pays banks, fees could get even more outrageous, the Financial Times reports (subscription only). Such a move by the Fed would lose banks some easy money, and they could take the difference out of their customers' hides.
   Not only do they give almost non existent interest but now want to charge us for putting our money in the bank. They use our money to charge outrageous interest on loans.....robbers!
   http://www.huffingtonpost.com/2013/11/2 … lp00000592

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      wildernessposted 10 years agoin reply to this

      Then don't use a savings account.  That's easy.

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         Stacie Lposted 10 years agoin reply to this

         Yes that's the obvious answer,but why isn't govt  intervening?
         They were bailed out and still want more from us..

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            wildernessposted 10 years agoin reply to this

            Govt. does not normally interfere in business, particularly by setting pricing.  Although it is dying fast, there is still a feeling that the American citizen is capable of making decisions themselves.
            
            If you wish to pay a bank to hold your money for you, do so.  If not, don't put it there.

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               GA Andersonposted 10 years agoin reply to this

               OMG! Can I believe what I read?
               
               Wilderness, step away from the table. Leave the bottle!
               
               Government does not normally interfere in business?
               
               Really?
               
               Can you name an entity that interferes more?
               
               Notice I did not say shape business practices - obviously the consumer does that.
               
               GA

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                  wildernessposted 10 years agoin reply to this

                  Calm yourself, GA - the bottle is not empty yet.
                  
                  Perhaps that is a small overstatement, about the size of Mount Everest.  The intent was merely to point out that govt. does not normally set pricing.

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   Zelkiiroposted 10 years ago

   My checking account is my savings account.
   
   Problem, officer?

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      wildernessposted 10 years agoin reply to this

      I went recently to open a new savings account and was told that there would soon be a charge for having it.  The result was a new checking account instead, just as you say.  The loss of interest is minimal anyway.

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   Bishop55posted 10 years ago

   Join Capital One 360.  online banking, no fees!  I LOVE them!

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