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Old 01-28-2009, 02:07 PM
 
Location: Orlando, Florida
43,854 posts, read 48,978,176 times
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Quote:
Originally Posted by cdelena View Post
Like any business, banks must find a way to make a profit on the services they provide. If they don't charge for what has worked in the past I suspect that 'free' checking, bill pay, ATM, even teller transactions will become charge items.
I think you are correct. Never minding that most of their customers will probably also face a tax hike somewhere down the road for their bail out.
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Old 01-28-2009, 02:58 PM
 
13,808 posts, read 25,956,095 times
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Quote:
Originally Posted by GloryB View Post
I think you are correct. Never minding that most of their customers will probably also face a tax hike somewhere down the road for their bail out.
Banks have to have free check/savings accounts. Otherwise people would pull their money and flock to the ones that do. Competition is a beautiful thing.
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Old 01-28-2009, 03:27 PM
 
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Quote:
Originally Posted by wheelsup View Post
Banks have to have free check/savings accounts. Otherwise people would pull their money and flock to the ones that do. Competition is a beautiful thing.
Agreed, if BoA or Wachovia started charging me new fees, I would be pretty P.O.'ed over that. That's definitely grounds to find a new bank..

On a related note, an auditor friend of mine was commenting on how the small/midsize banks in this area were doing fine. They are sitting on millions in cash, and don't have any "toxic" assets. They just weren't lending because inter-bank rates were too high. Just hearsay..
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Old 01-28-2009, 03:27 PM
 
8,239 posts, read 16,627,835 times
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Quote:
Originally Posted by evilnewbie View Post
I am waiting for the no more free checking or savings accounts to be replacing all the free accounts... if that ever happens, I am putting my money in a safe...
Good luck with that. There is a full fledged war being waged against the use of cash. It should be illegal very soon. Too anonymous.
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