In issue 99:06:02, we told you about First Union charging merchants or others who call the bank to verify the validity of a customer's check. Well, since banks are equal opportunity fee assessors, a bank has found a new fee to assess their customers: charging for deposit slips.
National City wants customers to fork over $2 for a deposit slip. Customers can avoid the fee by using their own deposit slips that have their account number printed on them. But, if a customer runs out of deposit slips or forgets to bring one, he or she will have to fill out a blank one and pay $2.
Bill Eiler, speaking for National City, said the $2 deposit fee covers the higher cost of processing handwritten slips. He also said errors are more likely with those slips "which is costly in the long run to the customer and the bank." So, the consumer is paying for the inefficiency of the bank?
If you're on the ball, you're probably thinking, "I would just use a counter check and avoid that fee." Not so fast. National City also charges $2 if a customer uses one of the bank's counter checks. Mellon Bank also charges $1 for a counter check.
Let's see, customers are now charged "foreign" ATM fees, over ATM limit fees, teller window fees, fees if the payee cashes their check at the payer's bank (issue 99:04:01), and now deposit slip fees. Is it any wonder check cashing outlets are doing so well?
