Banks are of course leaving no stone unturned in their quest for fee revenue to replace the shortfall caused by the Durbin Amendment. I can’t say as I blame them. But I do enjoy reading about the new fees and fee increases that various banks have come up with. From the South Florida Sun-Sentinel.
TD Bank, for example, in December raised the fee for an incoming wire transfer to $15 from $10; for a bank-issued check to $8 from $4 and for a stop-payment to $30 from $25. In January, it added a $2 a month fee for customers who want a picture of their check in their statement. And in February, people who are not TD customers will be charged $5 to cash a paycheck at a branch.
Thorough! My personal favorite so far, however: PNC will charge a $25 “early closures fee” to customers who shut an account within 180 days of opening it. And they say innovation in the banking industry is dead. . . .