Welcome to The Times in Plain English   Click to listen highlighted text! Welcome to The Times in Plain English

Banks charge more for services

April 5, 2011
Plain English Version

Banks charge you for overdrafts on your account. They charge to use some ATMs. They charge you when you are late with payments on your credit card.

Banks that received billions of dollars in bailout funds are increasing charges to customers. They banks say they need the money. They say that consumers are spending less on their credit cards.
The greatest change has been in fees for overdrafts. The typical fee rose to $26 after five years at $25. This is not supposed to happen during a recession.
Many banks make big profits by charging consumers high interest rates for loans. They keep the interest rates they pay on money market and checking accounts low.
This is happening because consumers are spending less. The best way for banks to recover their lost revenue is to charge more.
Consumers can fight back. Compare the fees charged by your banks with credit unions and community lenders in your area. Use an ATM. in the bank’s network. If you are charged fees, ask your bank manager about waiving them.

Print Friendly

Leave a Reply

Your email address will not be published. Required fields are marked *

In Brief

Selling Kids on Vegetables

How to get kids to eat vegetables? Marketing is the answer. You can call it tricks or just good ideas. Whatever works.

School lunchrooms are...

What Do You Call Yourself if Your Mother is White and Your Father is Black?

On the 2010 Census, President Barack Obama, identified himself as  “black.” But millions of Americans consider themselves “bi- or multi-racial.”  And their numbers are...

Mending Walls, By Robert Frost

Robert Frost (1874 – 1963) was a great American poet. Just before he died, he read his poetry at the inauguration of President John...

Pineapple on Pizza? The Global Debate

The President of Iceland started it. Last week he joked that pizza topped with pineapple should be outlawed. His remarks set off a debate...

Archives

test

Dictionary
  • dictionary
  • English Dictionary

Double click on any word on the page or type a word:

Powered by dictionarist.com
Click to listen highlighted text!