Citibank to begin charging fees - NBC12 - WWBT - Richmond, VA News On Your Side

Citibank to begin charging fees

RICHMOND, VA (WWBT) - Another bank is joining the ranks of institutions charging customers extra fees.

Citibank says it is tacking on the fees to certain customers. But there is a way to avoid it.

Your Citibank account will get hit with one of three monthly fees if your balance falls below a certain amount.

Starting in December, Citibank will charge customers who have the easy checking package.

This is currently a free service, but it will soon cost you $15 a month.

That charge will only come if your checking and savings account balances don't total at least $6,000.

Those aren't the only Citibank customers who'll have to pay.

Anyone with a mid-level account package will be charged $20 a month if your combined account balance is less than $15,000.

You can always move to the basic banking account.

That will cost you $10 a month if your balance falls less than $1,500.

Citibank says basic checking customers can avoid paying the fee by making one direct deposit and one online bill payment during each monthly statement period.

These moves follow similar announcements from Bank of America, Wells Fargo, J. P. Morgan, Chase, Sun Trust and Regions Financial. 

Copyright 2011 WWBT NBC12. All rights reserved.

Powered by Frankly