Five Sneaky Bank Fees – Spending – Deals – SmartMoney.com


YOU MAY HAVE FREE checking with your bank, but that doesn’t mean you aren’t paying fees elsewhere.

Where fees were once used as a deterrent from, say, repeatedly bouncing checks or other poor behaviors, they’re now big money makers for banks, accounting for 56% of bank income, according to the Federal Deposit Insurance Corp. Banks earned an estimated $80 billion on fees in 2006. Ten years ago, fees accounted for just 3% of bank income.

READ MORE via Five Sneaky Bank Fees – Spending – Deals – SmartMoney.com.

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