Ask Andy: "Don't Ask, Don't Tell" bank fees

Ask Andy: "Don't Ask, Don't Tell" bank fees

(WMC TV) - Thanks to fairly decent federal regulations -- and some really bad press -- banks are, for the most part, doing a better job of disclosing their fees.

However, the U.S. Public Interest Research Group (PIRG) told consumer resource Bottom Line Secrets these are a few fees you better bring up with your bank. Because if you don't, your bank's not telling:

* DORMANCY FEES. Yes, some banks actually charge you to keep an inactive account open.

* ACCOUNT CLOSING FEES. This one snares college students who are attending a school for just a semester or two. They don't know that their banks may levy penalties on accounts closed six months to a year after they're opened. Students finish their limited time, close the account -- boom! Nice fee, there!

* TELLER & PHONE FEES. Fees simply for talking to a teller or for calling the bank's automated system. These fees are rare, but pay close attention to your bank statements.

* PIN FEES. Some banks will even levy a fee every time you punch your personal identification number in a debit card purchase.

Your best defense against these fees:  a truth in savings disclosure. Banks must give their customers this disclosure when requested. It should spell out each and every fee.

Ask your bank for the disclosure. Demand it. Find out what your bank might not be telling you.

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