Keep an eye out for sneaky new bank fees!

Release the hounds with fees in their mouths.

Today in Mr.-Burns-esque Things Big Banks Do: remember a few weeks ago when the banks announced they were backing off charging a $5 monthly fee to use your debit card? People said to watch for new, sneakier fees popping up, because the banks still want to chomp a bit of your cheddar. Now comes this head’s up from HuffPo: Bank of America is charging people to withdraw unemployment money. If you’re one of those fat cats lavishing yourself with unemployment, they can charge you for withdrawing from a non-BOA ATM, a fee that totaled $350 for one South Carolina woman. The Times reports banks are quietly ramping up other fees too, from replacing debit card cards to maintaining a checking account. Perhaps it’s time to take another look at this guide on switching to a credit union?

2 Comment

  • Unless my experience is unique, unemployment benefits in NY are administered via Chase debit cards. Nevertheless, total cronyism. Opt for direct deposit if, like yours truly, you’re out of work and receiving benefits.

    • If you have a bank account, why wouldn’t everyone opt for direct deposit? My roommate was collecting unemployment when she was in India for a few months and it was going straight into her account. Oops … I just blew up her spot. Luckily she is employed by now.