Banks Threaten To Charge You For Saving Money

Comments:  | Leave A Comment

n-PILE-CASH-large.jpg

Shutterstock / norhazlan

This is a photo of three piles of money, likely more than you have in your savings account. (Photo credit: Getty)

In an effort to protect their record profits, banks might soon charge you for the privilege of having a savings account.

I know what you’re thinking: Banks already charge customers outrageous fees for the privilege of having bank accounts. But if the Federal Reserve dares to try and help the economy by cutting a special interest rate it pays banks, fees could get even more outrageous, the Financial Times reports (subscription only). Such a move by the Fed would lose banks some easy money, and they could take the difference out of their customers’ hides.

Read more of the story here.

Tags: » » » » »

Comments

blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 347 other followers