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Some Banks Are Still Keeping Account Fees Hidden

PHILADELPHIA (CBS) – Saving money at the bank can be done, but it takes work.

A new survey of banks by the Public Interest Research Group shows that free checking isn’t dead yet, according to Alana Miller program associate with the group’s local branch.

“Half of all branches surveyed still offer free checking, most of the ones we surveyed in Philadelphia do as well, and over three or four offer free checking or free checking with direct deposit.”

It’s not all good news.

Miller says group members visited more than 350-bank branches nationwide and found that only 38-percent complied with The Truth in Savings Act by producing a list of bank fees on first request. Many more did comply after repeated requests.

Reported by Lynne Adkins, KYW Newsradio

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  • steve davis

    people have NO idea how clever these s.o.b.’s are. when ******** was ***** *****, they typically put a $2.50, $3.50, etc. charge on your monthly statement for things like, “bag deposits”, “multiple statements”, etc. there were several other charges that escape my memory as it has been quite some time since they have stolen my money. at first you might think this is just an honest mistake by the bank and you go into the branch to take care of it. now you see what is REALLY going on. i know this could not just be a simple one time mistake as i was at the bank every day and sometimes twice a day for our business. here is the fun part. you see these charges, hopefully, and when you go to the bank to fix, there are 50 people waiting for one service rep to help you. you look at ALL these people and you start to wonder what is going on. not being shy, i open my mouth and start asking people waiting like myself and employees at the bank if they are giving away free samples or something. i soon find out that EVERY person is there with the same fees on their accounts. NOW is REALLY where they’ve got you. you look at the crowd waiting and figure at best you might get it taken care of after an hour or more of waiting. again, there is only ONE perosn to help. i think this is by design. OF COURSE YOU END UP EATING THE CHARGES!!!!!! who is waiting for a few dollars all day in line at the bank? the bank WINS. if you wait and see the rep, they will apologize, “computer error” whatever and say it will be taken off immediately. now you have wasted half your day, gas, aggravation, for a few lousy dollars. we are talking principal here. the bank will do this to everybody. some will see it, some won’t. again you have the same scenario at the bank to rectify. MANY will eat the few dollars rather than wait. now multiply that by millions of customers and tell me you would not like a set-up like that. SWEEEEEEEEEEEEET!!!! the banks could teach the terrorists a few things. Grumpy got it right. The fleecing of America continues. one way or another they get their hands in your pockets.

  • grumpy

    The fleecing of America continues………..

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