There have been plenty of problems here in the UK with banks reaping in huge amounts in bank charges. They have been deemed illegally taken in recent court cases, and there are plenty of companies out there ready to take banks to court to claim unlawful charge money for bank clients.
Hopefully the rest of the world will catch on too.
International Level: Activist / Political Participation: 29 2.9%
I think bank fees should be based on a percentage up to a certain amount and not a standard fee. For instance if you mistakenly overdraft $1 they should not charge you $35 for that, it just does not make any sense it is obviously a rip off! It should be a percentage of the $1 so maybe $0.10.
International Level: International Guru / Political Participation: 3229 100%
That would make too much sense. I think Diane is right and that soon the banks will no longer be abel to charge these fees. I think the same is true for ATM fees. Why should I get charged to get my own money. Does not make sense. I refuse to use a ATM that charges. There are plenty of free ones if you look around.
ATM fees, yes that is another bummer, how about when you just check your balance and they charge you for that too! The thing is if banks become regulated they will begin to refuse to give certain free or 'extra' services.
International Level: International Guru / Political Participation: 3229 100%
I once accidentally took out $0.05 electronically from my account and they charged me $25 for that! I was so angry and complained to the manager but they wouldn't hear me because they considered it an overdraft. I switched banks immediately after that!
International Level: Junior Politician / Political Participation: 71 7.1%