kootchman
There is a reason they are raising prices. A “retail” account that carries a average monthly balance of $500 bucks is a service. It’s not an account that a bank can “loan against” with such a small balance. Dodd Frank did force banks to carry higher cash/capital reserves.. Checking accounts don’t help. That is why the minimum balance accounts don’t get charged. Not having a $5 fee is not worth tying up $1500 in cash to me..I can get a better return doing something else with it..so I will take the fee as a retail service. I will pay for. A steady service revenue stream can be used to show minimum reserve compliance. I don’t like it..but is the “service” free worth the risk of lost cash, ease of record keeping…? For me, yes. If ya add a cost burden to a business… they will raise prices. Your choice to use it. Populist political gestures do cost money. Now IMAGINE as part of Dodd Frank…the law said you HAVE to carry a debit card, you have no choice….you can’t avoid the fees and can’t use a credit union or cash and if you are caught without a debit card you can get a heft fine… why, you would have something close to Obamacare..! See how that works?