Do you pay fees for your bank account and/or your credit card?

After 40 years my bank will charge fees for the account (3 Euros per month) and 15 Euros for the normal simple credit card.

Meanwhile there are only 20 accounts free of fees here in Germany.
More than 200 accounts are more than 60 Euros per year.

I changed now.
Was a little bit of work to change the direct debit authorisations to the new account.
But it worked.
Now I got a free VISA card too. :wink:

Are your bank accounts free of costs?

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No.
I think in the UK its unusual to be charged for a standard current account.
Some come with benefits such as travel insurance or money off things and they charge annually for that.

Some banks here, although not as many now, pay you to move to them! The clause is you must pay a minimum into that account each month for a year.

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Same is that I opened now.
They expect a minimum deposit per month.
Seems the “banksters” are more located here in Germany! :rofl:

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Haha, yes, “banksters”
The account i opened with First Direct offered £125 to open the account and if you’re not happy after 6 months and leave they will give you another £100!

I will open a account in UK! :rofl:
And you will get a premium if you acquired old Franz! :smiley:

But do they “earn” any money from you by this account?

Meanwhile the interests are low world wide.
here they charge even money if your “store” your money.
Called “negative interests” those are here are more and more used.
BUT if you overdraw your account they get you with even more 10%.

“Banksters!” :rofl:

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I’m sure the UK banking system would welcome you :+1:t2:
Yes, banks earn money from every opportunity.
And the interest rates are extremely low so the account holders don’t really earn any interest in savings.
Overdraft facilities with my bank are quite good, not that in use it and there is no charge if i stay within the rules.
I have just a £500 agreed overdraft with no interest charged on the first £250 and they send you a text message to let you know if you have gone “in the red”.

What is happening is the bank making money from overdraft fees, is becoming regulated, and so the bank’s move to making money in other ways.

You’re totally correct, just move.

Money makes money, debt makes debts, rich get richer, poor get poorer. It’s why money still exists, to ensure wealth moves from those who work to those who don’t.

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I know this fellow!

Here is his “companero”!

Friedrich_Engels_(1891)

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100% with you there @professor

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I have no charge accounts in US, but in Canada it’s different. You have to maintain the minimum balance in the account in order to have the monthly charges waived. Few times, I went below the set minimum and got charged for that, it’s a pain xxxx .:grimacing:

Some Credit cards come with premium perks hence you pay the annual fee. I don’t need those “perks” so I do keep the ones that don’t require annual fee.

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Other country other “bankster”-models!:wink:

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We have some minimum balance accounts in the UK but think thats mainly exclusive accounts such as Coutts or some higher earning savings accounts.

Most of Checking/Savings account have fees in US, unless you fulfill some requirements to maintain specific balance / number of transfers / transactions. Some Banks and Credit Unions are now offering no fee free accounts.

Also fees for using debit card on Non-Bank ATMs, these fees are reimbursed if the account is privileged ones … $3 fee per transaction up to $400 withdrawal

There is one other bank, which keeps bucks and does not charge any fees… Anker (Community) Bank … Bucks (PowerBucks) can be earned and safely deposited / accumulated , and no fees paid :rofl:

Thanks to our own banker @Ankerofficial Anker Team

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Fees for using debit card, thats harsh @Shenoy
Tax when you earn it, fees to save it and fees to spend it! :flushed:

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USA checking accounts often are either a regular salary in each month or a minimum balance, or go with one of the smaller local credit unions. I won’t name my USA bank but once I stopped getting paycheck there, they hit me with monthly fee and to avoid I needed $10K minimum balance across all accounts to avoid. I’m outside of USA currently so moving banks difficult.

UK banks, for free banking no problems.

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Agree, I had salary account, then might have the min balance maintained, was never charged monthly fee.

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the funny thing with that free accound I opened recenty.
There is a need of 700 Euro input per month.
BUT you can withdraw it asap. :rofl:

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2 posts were merged into an existing topic: Spam Links / Accounts - ongoing

There are some friends here from UK.
They might you tell you more about UK taxes ect.
I am from Germany, so my hints will not help you. :grinning:

I totally feel you on the whole bank fees thing. It’s crazy how much they can charge for just having an account and a simple credit card. It’s good to know that there are still some free options out there, but it seems like they’re becoming more and more rare these days. Speaking of credit cards, have you ever heard of Briansclub? They offer virtual credit cards that you can use for shopping online. It’s a great way to keep your real credit card information safe and secure, especially with all the data breaches that seem to be happening these days.