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To: Benny Baga who wrote (9538)9/1/1999 12:36:00 PM
From: Sam Biller  Read Replies (1) | Respond to of 20297
 
>>>Not to mention, some banks like First Union actually charge 50 cents for each paper check you write (depending on the account). <<<

The banks love to nickel and dime you to death w/ fees. The move to "relationship" banking seems to be the "buzzword" of the day. I have a "relationship" w/ BankOfAmerica as an "Advantage" customer which gives me a lot of advantages like free bill pay, free checks, free out-of-network ATM withdrawals, etc. The disadvantage...they pay me a crappy interest rate on my checking account.

>>>Also makes me wonder (when/if e-billing takes off) if more banks will start charging for paper checks, instead of eating the cost. Banks love fees.<<<

I think the single biggest annoyance to the consumer are nuisance fees. I think there will be a big back-lash against the banks if they start charging for things like paper checks, etc., w/o giving the consumer a reasonable alternative like...OK, if you move a $15K IRA to our discount brokerage, we'll waive all of your fees and give you free bill-pay. IMHO, incentives work much better then penalties.

-Sam