Found out banks can charge you for using your own cash

I was at my credit union last week depositing rent money and the teller mentioned some banks now charge fees if you make more than 5 cash deposits a month. Had no idea that was a thing. Anyone else run into fees for just handling your own money?

2 comments

2 Comments

alice80814d ago

Oh I got a story about that "charging you for using your own cash" thing. My friend Jenna got hit with a fee like that last year and she was so mad. She runs a small cleaning business and gets paid in cash a lot so she was depositing maybe 8 or 9 times a month. The bank just slapped her with a $5 fee for every deposit after the 5th one without even telling her first. She ended up switching to a credit union that doesn't have those limits and now she's fine. It's wild that banks are nickel and diming people just for putting their own money in the bank.

patricia_hayes14d ago

Different banks have different costs, and those fees help keep the basic checking account free for the rest of us. I get why Jenna was upset, but in my experience, banks spell this stuff out in the fee schedule you get when you open an account. Most people just toss that paperwork. The credit union might work for her now, but plenty of them have similar limits once you start looking. It's not fair to act like the bank is trying to trick you. They're running a business and cash deposits actually cost them money to process.