ST. LOUIS (KMOV) – A News 4 viewer says she is upset after learning her bank is charging her a $10 fee for having less than $1,500 in her checking account.
Tracy Clinton says she had no idea there was a new fee until she went to use her debit card and it was declined. Twenty dollars was deducted from her account because of a new monthly fee that was instated just last month.
A spokesperson for Regions Bank says that previously, it was $8 a month for customers who could not keep at least $1,000 in their checking account. When asked why the increase, the bank released the following statement:
“Regions regularly reviews account offerings and makes adjustments based on market conditions and customer feedback.”
Regions Bank claims it sent all customers a letter in September telling them about the changes. It was also posted on the Bank’s website.
But for Tracy Clinton and her husband, times are tough. Her husband just lost his job and they cannot afford the extra $120 per year.