With most banks and financial institutions today feeling the brunt of the global economic recession, many are trying hard to stay afloat. And with the US government getting close to installing several protective measures on consumer financial products, banks are concerned about where they will be getting most of their earnings next. With the government limiting their chances of increasing interest rates as much as they want, many banks are looking into sneaky ways of earning income in the form of bank charges and fees.

Banks and credit card institutions are imposing sneaky ways to profit from the consumers by imposing several charges or fees for services that were once considered as part of their service. Many of them may have also imposed stiffer penalties that many consumers may be unaware of. Unfortunately, all these are being added into the fine print that most people don’ t care to know about to such disastrous consequences coming by way of their monthly bills. Here are some of the new fees and charges that many banks may start to impose and that consumers should try to look at more closely.

Overdraft Charges

Most banks may be imposing stiffer charges for over drafts. The problem is that some people may not be aware is that most banks do not impose denial of service especially if people draw cash from their ATM accounts. The same may go for people who may have unknowingly issued checks that may bounce.

Returned Deposits

Some banks may now issue penalties for deposited checks in your account that may have bounced. In this case, people should be careful of accepting checks and only try to deposit those coming from trusted sources.

Checking Account Fees

People view having checking accounts as a privilege and has long been provided as a fee- free service from banks. The same may not be true anymore. Some banks may now start charging fees for the service and consumers should not assume that their checking accounts remain free. It pays for them to inquire and make sure.

Teller Services

In order to encourage more people to use online banking, some banks may now charge consumers by using bank teller services. Depositing and withdrawing from accounts through bank tellers may have their corresponding charges in some banks. Some may offer two or more teller visits for free per month and charge fees for extras after that.

Late Credit Card Payments

Although late fees may already be considered quite steep , consumers should look forward for even stiffer penalties and charges for such incursions . Although the government may be trying to put a cap on such charges, people should expect them to even rise higher until legislation for such caps are eventually put into law.