Reason to Examine Your Bank Statements

There is now more reason than ever to take a close look at your bank statement. A bank (I used to do business with) with branches in Pennsylvania is now charging their customers a $.35 "swipe fee" when they use their debit card.

I check my on-line banking statements at least 3 times a week and found the charge. When I went to the bank for an explanation the Branch Manager told me it was fee charged by the retailers I was doing business with. I went to the retailers who all stated that they were not charging the fee. My next stop was at the bank's corporate offices. After a week of their investigating my complaint they confirmed that they were indeed charging their debit customers a "swipe fee".  You can guess how long it took me to close my accounts - the correct answer is with lighting speed.

Make sure you continuously check your statements - with the new banking laws you just might get an ugly surprise.  

 

Curtis Baillie - Security Consulting Strategies, LLC

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