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If thats what you signed up for, fine.
Theres not much to it, but you must act nowbefore the fees start adding up.
Meet the Expert
Ken Tumin is the founder ofDepositAccountsby LendingTree.
I received a notice from the bank stating that it had decided to start charging monthly fees.
Can the bank do this?
The CFPB responded, Yes.
If you receive such a notice, follow these four steps:
1.
Step 1 is to find out exactly when the fee kicks in to avoid unpleasant surprises.
Check with the bank to ensure you understand the fee, said Tumin.
But in other cases, you’re able to take action to avoid being hit with a charge.
Remember that checking accounts are more of a headache to switch than savings accounts.
double-check to look online.
Many online banks offer free checking accounts with low or no fees for overdrafts and ATM usage.
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