$hitibank....

[marmar]

Citibank to Keep Free Checking Accounts Through 2010 (Update2)
By Linda Shen and Jeff Plungis


Feb. 1 (Bloomberg) -- Citigroup Inc.’s Citibank agreed to a year delay in adding fees on more than 1 million U.S. consumers who signed up for checking accounts that were advertised as “free,” the New York Attorney General said.

The lender also will maintain features of the accounts for consumers who signed up in 2009 for the rest of this year, Andrew Cuomo’s office said today in an e-mailed statement. The bank also will delay per-check charges until Jan. 31, 2011. The New York Attorney General’s office said the per-check fees would have cost consumers tens of millions of dollars.

“Adding unexpected fees to consumers’ checking accounts can hit families very hard,” Cuomo said in the statement. “Citibank is doing the right thing for their customers through this agreement.”

Cuomo’s office last year began looking into Citibank’s plan to stop waiving monthly fees unless customers maintained a minimum balance. Cuomo’s office said Citibank, in changing its policy, failed to tell customers they would face per-check fees unless they had a minimum balance, according to a Feb. 1 letter from the Attorney General’s office to Citibank.

Citi advertised free checking to customers who opened “EZ Checking” or “Access” accounts, as long as customers had a direct deposit or made two monthly online bill payments, according to the attorney general. The accounts allowed customers to avoid maintenance fees of $7.50 or $9.50 a month and per-check charges of 50 cents or $1.00 after the first 10 checks. ........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20603037&sid=aSzBv_N9seX8

[hobbit709]

1. All the more reason to not have a penny anywhere near a big bank.

10 years ago when my bank started feeing me to death and started raising the fees, I just took my money and went to the credit union. No fees, no minimum balance, my checks cost half of what the bank wanted and the cashiers know me by name.

[MrsBrady]

4. Amen

We just switched. Luv it.

There was some type of preoblem with my
husband's direct deposit the first time it went
to the credit union. They had put it into the savings
instead of the checking. They called me back the
next day. Sorry, our fault. There was some kind
of computer rule that was set for all deposits to go
to the savings.
I couldn't believed they actually called me back.

You think I ever got a call from Chase?

[sendero]

2. Anyone that would maintain an account..

... at Citi, Chase, BoA or Wells deserves whatever they get.

GET YOUR MONEY OUT OF THESE CROOKS' BANKS!

[Uben]

3. After all the bad press about bonuses.......

.....I don't know why anyone would put money in a big bank. I made sure none of my investments involved any big banks and I have had my money in a credit union for at least 25 years. These bankers are now coming up with new fees to offset their losses so the bonuses can continue. You would have to be an idiot to put your money in a big bank these days.