"It's an economic thing," he says about not wanting to add a $60 annual debit-card fee on top of his $12-per-month checking account cost. Credit unions, mid-size banks and online institutions are eagerly stepping up to capture banking customers who are fed up with increasing fees at the biggest banks. Even as as the biggest national banks shift increasingly into a pay-to-play model, regional banks and credit unions -- by design or coincidence -- are gearing up to absorb the fleeing customers. Meanwhile, it is hard to miss Capital One's (COF) campaign for it's new "5x" High-Yield Checking Account, which was launched in September. He just wanted a plain, simple checking account that aligned with his personal finances and affordability.

Source: Huffington Post June 15, 2024 01:44 UTC