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Thursday, June 17, 2010

But it was free yesterday!

U.S. banks may end free checking accounts according to Reuters

The move is expected to hurt retail clients who could be asked to pay new monthly maintenance fees on the most basic accounts that do not generate a lot of activity, the paper said.

To avoid a fee, customers will have to maintain certain account balances or frequently use other banking services, such as credit and debit cards, automated teller machines and online accounts, the Journal said.

I’m not sure which is more ridiculous – that anyone is surprised by this or by the illogical “gimme free stuff!” reaction in the comments to the article.

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