Fee, fi, fo, fum, do you smell your money going down the drain? You may have noticed the fees your bank charges when you've been bad or for just having and using your account — or maybe you haven't been paying attention. Banking fees have risen steadily in the past few years to cover business costs and deal with tough economic times, but a government study released yesterday shows that most consumers are unaware of these banking fees they've been paying on their accounts.
This is especially alarming when you consider that some fees have risen in double-digit increments since 2000 — the study shows that overdraft fees have increased 11 percent. Banks are legally obligated to disclose fees to consumers, but the study's researchers couldn't find fee information on half of the banks' websites. However, the FDIC was able to calculate that consumers paid more than $36 billion in banking fees during 2006. How informed are you about the fees charged to your bank account?
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Mine is pricey ($9) and I barely get anything! That's why when I get paid, I take all my spending cash OUT and try not to even touch my ATM card for fear of getting chraged