Dear Mr. Bank was the highest read post here to date. It seemed to touch a nerve for many readers.
Forbes published “Why bank fees are an unjust and unfair tax on customers” recently which makes the point that low income people are punished disproportionately by these fees. High income customers have other options and according to my credit union and the teller at my old bank, they are moving their accounts in droves.
Here are a few options I found recently:
ING is offering a no fee checking account as of this date (October 13, 2011) with a $50 bonus. It looks like they want your business.
USAA offers a no fee checking account. You can check their website to see if you qualify for an account.
Don’t forget to check out your local credit union; they offer great services to their members.
I also learned that your bank may waive the extra fees if you only use your debit card as an ATM and if you have your checks direct deposited. It’s worth checking account if you’d rather stay put. You may also want to see if getting eStatements will reduce your fees.