In an effort to make up for revenue losses due to a tough economy and their own efficiencies, many sources are predicting that banks are going to begin raising fees for services for even their best customers this year.  Bank customers are predicted to see fees jump including those associated with closing accounts, paper statements and safe deposit boxes.  

What other types of fees are bank customers being charged? 

• Bank of America (BOA) is charging some customers $5 to replace lost debit cards and $20 for rush replacement.
• BOA also charges e-banking customers $8.95 each month they use a teller to make a transaction. 
• TD Bank began charging $15 for incoming domestic wire transfers.
• Chase imposed a $12 fee on its standard checking account, which had been free for most customers.

Did you know on average it costs $2.40 per transaction at the ATM for consumers to withdrawal from bank that they're not a customer, and on top of that they're averaging another $3.81 in fees from their home bank for making an out-of-network transaction?  Experts are saying that big banks are struggling with higher costs and in turn will continue to pass those increased costs onto you, their customers.  

Get out while you can and keep more of your money where it belongs, in your account.  Don't waste your time guarding your account to make sure your money's not disappearing for cursory bank fees!  Banks are making the choice to switch to a credit union that much easier for you with each new fee imposed.  

Many of the services you'd find at a retail bank are available to you at your local credit union and with lower or no fees.  Do your homework and research which credit union is right for you and discover the credit union advantage.  If you have questions about what fees apply and how they compare at a credit union in your area versus your home bank – call and ask!   Your local credit union representative will be happy to answer any questions you may have about making the switch to less fees.