I feel like the banking industry is just one big balloon. When you push down on one section it doesn't decrease the size, it just shifts it to another side.
Recently the second of my children relocated to NYC. We purposely moved all of our accounts from a regional bank to a national bank prior to my daughter moving there three years ago. We did this to avoid ATM fees and to give her options for face to face banking issues.
Both kids recently informed me that the bank now charges them to use THEIR OWN BANK'S ATMS because their accounts were initially opened in Maryland NOT NYC.
This is outrageous. The purpose of picking a national bank was to use their network of ATMs without incurring a fee.
My daughter had to open another checking account at the same bank in NYC in order to not incur these fees. My son is contemplating moving banks entirely.
The bank in question is / was Wacovia / Wells Fargo. My question to the Kos community is this: has anyone else noticed this trend? Is it nationwide or just NYC or just Wells Fargo.
Thanks!