Citibank: No New Fees

 

– Free Webinar: The “Rewards” of Keeping Debit Loyalty Programs Post- Durbin (Click here to register)

 

September 16, 2011

Citibank announced last week that while monthly checking account charges will be raised, debit card and online bill pay services will continue to be complimentary.

“As banks unveil changes to conform to new regulatory provisions, Citibank (NYSE: C) chooses not to follow the industry trend of charging for debit cards and online bill pay service,” comments MyBankTracker.

In addition to increased checking account fees, Citibank will also be implementing stricter fee waiver rules.

Major FIs that have added debit card fees include Wells Fargo, SunTrust Bank and Regions Bank, according to MyBankTracker.

“What was once a free perk has now become a recurring charge that has angered many customers,” the site continues. “Wells Fargo’s basic checking has also cut free online bill pay from its list of services. It now costs $6.95 per month unless the customer maintains a $5,000 combined monthly balance.”

Click here to read the complete article.


Related Content

 

SWACHA’s 2011 Consumer Insights Survey Reveals Debit Card Fees Could Cause Customers to Abandon Ship

Is BoA’s 30K Job Cut Due to Dodd-Frank?

New Survey Reveals If CNP Merchants Will Pass Durbin Savings onto Consumers 

Credit Union Leaders Put In Two Cents on New Debit Fees at Major Banks

Wells Fargo Ends Debit Rewards Program Entirely

VIDEO: Reaction to New Wells Fargo Debit Fee in One Pilot State

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The September 2019 AML/KYC Tracker Report provides an in-depth examination of current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

Click to comment

TRENDING RIGHT NOW

To Top