Forbes Warns of Banks Retaliating through fees
Forbes wrote that as banks are grappling in their battlefield, they may have civilian casualties. Expect to be bled when banks are given the opportunity to offer a premium service such as overdraft fees and ATM fees for a hefty rate, and that those fees will be increasing and less frequently waived. Banks have realized that they must collect from their customer base in every corner of the market if they are to expect to survive in this gory economic times.
Forbes comforts the reader by offering the same common sense advice I believe in for dealing with the opponent: know the battlefield and plan ahead.
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The banks sure have raised their fees. I have learned the hard way to pay a few days early to avoid the banks having some problems “receiving” the payment.
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The nature of banking is sure to change over the next few years.
You will be expected to pay for the privelage of having an account and LTV mortgages etc will be a lot lower in the future.
Charges will be more prevalent and loans to businesses far harder to come by.
This will be a cross to bear for many but if these things had been in place earlier perhaps the financial difficulties the US now finds itself in, wouldn’t have transpired in the first place.