PNC Financial Services Group Inc., bucking a trend that is sweeping the banking industry, is vowing to keep its most-basic checking accounts free of fees. Get the full story »
Inside these posts: Bank fees
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U.S. Bank may end free checking
U.S. Bank is one of the last of the megabanks to offer free checking. But that may be about to end.
The Minneapolis-based bank recently hinted that it will add fees to its checking accounts — and even possibly to its debit cards — as it attempts to recoup revenue lost under new regulations. Get the full story »
Chase hiking fees on more services
(Heather Stone/Chicago Tribune)
Chase, Chicago’s biggest bank in terms of branches and deposit market share, is making it more expensive to stop payment on a check, do wire transfers and use a foreign ATM, among other things.
Chase is also telling its checking and savings customers that starting on Feb. 5, it’ll hike several other fees.
The bank recently instituted a minimum direct deposit threshold to maintain free checking if customers don’t meet certain other criteria. Get the full story »
Ex-WaMu customers face Chase service fees
Chase, Chicago’s biggest bank, is telling customers who were charged no monthly service fees at Washington Mutual that they could face a $12 monthly service fee unless their accounts meet one of four conditions.
It’s one of several changes that Chase and other banks are making to their basic checking accounts in light of a federal crackdown on the types and amounts of fees that lenders can charge, including a dramatic reduction in fees that merchants pay banks when customers make purchases with their debit cards.
As previously reported, Chase recently disclosed that beginning Feb. 8, its “Chase Checking” customers will need at least one direct deposit of $500 a month for Chase to waive its $6 monthly service fee, or make at least five debit card purchases during the transaction period. Currently, a direct deposit of any amount qualifies. Get the full story »
Cost of checking accounts at all-time high
The cost of maintaining a checking account rose to an all-time high this year, with much of the increase coming from the fees assessed to maintain both interest and non-interest-bearing accounts rising 40 percent. Get the full story »
