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Your Mattress Is Testing Withdrawal Fees, Too
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Unlike Bank of America, Citibank was smart enough to wait until a Friday afternoon before leaking the news that it plans to slap a new fee on most checking accounts, with high balance requirements before they become free again. This will drive many customers away, but here's the thing most of these articles miss: Losing those customers doesn't matter to the bank, because they're not making enough money on people who just keep a few thousand bucks in a checking account. The real money's in people with lots of money and lots of debt, and in commercial clients. The rest of us? There's always the credit union. (Los Angeles Times)
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