Photo by Nick Ares
Ever since Bank of America announced it would charge customers $5 a month to use their debit cards, and Citibank said it would charge more people minimum balance fees, lots of people have been writing into Credit.com’s message forums saying that the new fees are outrageous.
“It’s time to PROTEST in front of Bank of America’s building in San Francisco!!! PROTEST BIG BANKS!!!!,” someone with the username Aaron wrote on our site.
Of course, it’s not just BofA and Citibank. Lots of banks are increasing the fees they charge customers, partly to make up for revenue lost due to recent federal rules capping debit card swipe fees.
Short of stuffing your cash into a safe in your basement, what can you do to avoid these fee increases? Here are five fees that are going up, plus tips on how to avoid them.
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