It’s no secret that the recent economic downturn has forced a lot of companies to be a little more creative than usual in recouping lost funds. But now they’re just getting ridiculous.
Citigroup Inc. says that they are planning on charging their customers a monthly $10 fee (up from $8) if their checking and savings accounts combined don’t total up to at least $1,500:
Citibank is raising the monthly fee on its basic checking account.
The new fee will be $10, up from the previous $8. Customers can avoid the fee if they maintain a balance of at least $1,500 or set up direct deposit and online bill pay.
The bank also says it will no longer give rewards points for debit card transactions. But customers will be able to earn more points each year by opening a savings account or activating an automatic savings feature.
The changes reflect a broader industry push to deep relationships with customers. Banks have been hiking fees and scaling back rewards in the past year, but they’ve also been offering incentives for those who sign up for more services.
The changes take effect in December.
[BW]
Wow! Banks actually are charging people these days for not having any money in their accounts? That sh*t cray…
