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