this post was submitted on 25 Nov 2023
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[โ€“] riskable@programming.dev 5 points 11 months ago (1 children)

Some banks? No. All banks.

Even credit unions do this. They may not have as many or as expensive fees as regular commercial banks but they still have fees and certain features aren't free. If you deposit $100,000 (or more) you'll find that a lot of those fees get waived, your interest rates will be better, and they will generally treat you better than the peasants with like $5,000 in their savings.

It's just another advantage that the rich have over every day people. Most of them take these things for granted or don't think they matter in the slightest. It never occurs to them that regular $3 fees or occasional $25 fees can have a huge impact on the poor and the middle class.

Full Disclosure: I work for a bank.

[โ€“] CubbyTustard@reddthat.com 1 points 11 months ago

my credit unions don't charge me fees and one even pays any ATM fees i incur using out of network ATM's. I never have had more than a couple thousand dollars in my checking accounts at once.

What sort of activity would they charge a fee for like even money orders are free.

They have an interest bearing checking account that has fees ($7/mo) if you don't keep a $500/mo average balance but the interest isn't very good so I dunno why anyone would use it if they didn't keep the balance high enough to avoid the fees.