From mandatory arbitration clauses that waive jury trials to fees on empty envelopes and cash deposits, your bank is keeping disclosures tied to your checking accounts heavily cloaked in fine print and sometimes not in any print at all.
Pew’s mission is to convince all banks to include for all checking accounts disclosure boxes similar, yet considerably longer, to those now found on credit card bills.
But through its annual Safe Checking study, it has uncovered a number of items and fees that most consumers wouldn’t have a clue about until they got hit with them.
Yes, you can be charged a fee if the bank gets mail it sent to you returned.
Here’s a rundown of what to look for. Story by Jennifer Waters for Marketwatch
- Capital One And BofA Have Clearest Credit Card Info
- Prepaid Cards May Lack Protections of Checking Accounts
- Some Banks Assess Checking Account Fees to Recover Lost Revenue
- Despite New Opt-In Rules, Overdraft Fees Still Baffle Consumers
- Now Citibank Increases Checking Account Fees
- Feds Warn Against Overdraft Coverage