Expect More Fees From Banks This Year 2011

By on Jan 9, 2011 in Banking, Business, United States Comments

image captured from : comparenow.com

United States – In a report made by Wall Street  Journal, Citizens of United States have been warned on the possibility of having an increase of bank fees this year 2011. Apparently banks are attempting new ways to consider in increasing their revenue at products like debit cards, cash machines and checking accounts.

Banks are considering additional fees on credit cards and checking accounts. But they are also looking at new ways to make money on cash machines and especially debit cards as regulators pinch the cards’ conventional revenue streams.

Report further says that banks are planning of imposing an annual fees of $25 or $30 on debit cards.

There is no official news on when will the increase start, but financial analyst in United States believes that this will happen this year 2011.

Report also added that  J.P Morgan Chase, which bought Washington Mutual in 2008, will implement a fee based account for holders of checking account next month. Checking account is used to be a free service of WaMu.

There are also rumors that Bank of America will soon begin testing their $6 to $9 a month on its most basic checking account.

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