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Banks want to make more and more money for less and less service.
"Facing new government regulations and a lackluster economy, the financial industry is forcing customers to pay more just to park their money at the bank"
I think it is fair to charge a reasonable fee for their service. Right now, my bank stores my money for me, clears my checks for me, provides ATM machines for me, provides any denomination of cash and coins for me, etc. and I pay them absolutely nothing (except what they make off of using my money to lend to others).
I think it is fair to charge a reasonable fee for their service. Right now, my bank stores my money for me, clears my checks for me, provides ATM machines for me, provides any denomination of cash and coins for me, etc. and I pay them absolutely nothing (except what they make off of using my money to lend to others).
WHOA!! Banks DO NOT physically "store" money for anyone. They bundle all the money they have in accounts and then lend it out as loans!!
Me thinks that you need to do some homework on how banks work!!
Currently my cash account does not charge me any fees and even eat ATM fees that other banks charge. However, I don't mind the banks charging a fee for letting me park my money there. The use experience that comes along with a bank account is well worth it for me.
As a bonus for them, they've managed to use my money to supplement their revenue, and it doesn't negatively impact me at all. Whenever I want my money, they give it to me. Excellent!
No. More like the ponzi expansion of credit to things not manufactured which means the banks collect the bulk of the inflation tax with no added value in the placement of credit. It is now being rolled onto the public account also in the hands of the banks when we gave them cash for trash. You don't want to know how much that free checking costs you.
Do you think that the interest spread on the collective average balance in checking account pays for this:
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Banks DO NOT physically "store" money for anyone. They bundle all the money they have in accounts and then lend it out as loans!! 
