As of 4/01/09, my bank is going to charge $.50 for all debits in one account over $20. That adds up to a lot, considering most households have their bills automatically debited from their accounts these days. I average 45-50; on top of their other services charges, they will be getting $30-40 a month from me. Is this legal?
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Yes, it is legal. There is no cap set on the dollar amount a bank can charge for monthly account maintenance or for activity fees.
There is also no law that requires you to stay with a bank with whose service or fees you are not happy. If your current bank's fees will be onerous, you can and should shop around for a better deal.
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Yes, it is legal. There is no cap set on the dollar amount a bank can charge for monthly account maintenance or for activity 