Comments on: How Fees Can Quickly Erode Your Savings Account Returns

By: ctreit

ctreit — Wed, 20 Apr 2011 20:48:56 +0000

I find it amazing that so many banks get away with charging all these fees. Isn’t it puzzling that their customers accept these fees? I suppose these fees are usually so small that you don’t notice them but they do add up. A while ago a colleague of mine told me that he switched from Chase after he tallied up the fees they charged him in a year. He came close to $500.

By: Len Penzo

Len Penzo — Wed, 20 Apr 2011 20:48:56 +0000

@Ctreit: I think it is the Chinese – or maybe it was the Hungarians – wo call it, “death by a million paper cuts.”

By: Richard @ High Interest Savings

Richard @ High Interest Savings — Wed, 20 Apr 2011 20:48:56 +0000

It's amazing how quickly fees can erode away the benefits of savings. There are plenty of online saving accounts charging no fees it seems crazy to pay fees. .-= Richard @ High Interest Savings´s last blog ..Citibank Online Saver =-.

By: Len Penzo

Len Penzo — Wed, 20 Apr 2011 20:48:56 +0000

It does seem crazy, Richard, but many people are just too preoccupied (to put it nicely) to spend a little time to do the research necessary to avoid paying those fees.