You are hereBusiness Insider: Dear Citi Customers: Now It's Your Turn To Be Socked With A Massive Monthly Fee

Business Insider: Dear Citi Customers: Now It's Your Turn To Be Socked With A Massive Monthly Fee


-by Joe Weisenthal

October 1, 2011- Earlier this week there was quite an uproar on the news that Bank of America would charge a $5 fee to debit card users that made a payment in that month.

Well, customers of non-BofA big banks shouldn't feel too smug.

LA Times reports on the latest actions at Citigroup:

Cheryl Holt of Burbank said she received one of the Citibank letters this week saying her old account with the bank, a so-called Easy Checking Package that had always been free, was being replaced in December with a new account package with a $15 monthly fee or $6,000 deposit minimum.

That sent Holt, a self-employed writer with a son in college, out to move her accounts to the Burbank City Credit Union, which has free checking and free debit cards.

"Should have done it years ago!" she said.

There is, apparently a low-tier checking account that can be maintained, sans-fee, with just $1500 provided you have both direct deposit and some level of automatic bill pay.

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