Citibank Doubles Checking Account Fees

Citibank to Nickel-&-Dime Its Customers, Just Like Bank of America

Monkey, see monkey do. CitiGroupis bumping up its fees, just as BofA did. In this case, Citi isn't implementing a debit card fee... it's just doubling its Citibank checking-account fees.

• BofA to Charge Debit Card Users $5 per Month
  

If you don't want to pay $15 per month (up from $7.50) for the privilege of a Citibank checking account, you'll have to keep a balance of $6,000 (up from $1,500). The EZ Checking Package is also being replaced by the decidedly-less-EZ $15-per-month package.

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Of course, keeping $6,000 in a checking account is insane, since that money earns no interest.

Meanwhile, JPMorganChase now has a blank check (sorry) to do as it likes: since the other big banks have upped their fees, customers aren't left with much of a choice. Chase, by the way, has a rich history of nickel-and-diming its customers, so its next move is easy to predict.