That $35 annual fee on my old checking account finally bit me

I've had this checking account since college, like 12 years now, and never paid attention to the fees. Last month I got hit with a $35 annual maintenance charge out of nowhere. Turns out they changed the terms six months ago and I missed the email. I switched to a credit union down the street that has zero fees and actually pays 0.5% interest. Has anyone else had a bank sneak in a fee like that after years of being fee-free?

2 comments

2 Comments

jason95814d ago

Oh man, I actually just read a Consumer Reports article about this exact thing (they called it "fee creep" or something like that). The article said banks do these term changes quietly on purpose because they make millions off people who don't notice. And it's so true, they bury it in that long legal jargon email everyone deletes without reading. I had a similar thing happen with my old bank, they added a $12 monthly fee I didn't catch for three months (felt real dumb when I saw the charges). Good on you for jumping to a credit union though, mine has been way more upfront about everything and I actually trust them not to pull this stuff.

leo_harris15d ago

Dude the "changed the terms six months ago and I missed the email" part is exactly what gets me. They count on you not reading every single random email from them lol. What really bugs me is how they bury these fee changes in a generic "we're updating our policies" email mixed in with spam and ads. I swear banks do it on purpose knowing most people will just delete it. The credit union move is smart though, I did the same thing two years ago and honestly the service is way better too. Local tellers actually remember your name which is wild in 2025. Just keep an eye on their fine print too, I caught my credit union trying to add a random $2 fee for paper statements last quarter.