Why you should inspect your bank statementsPosted: Updated:
PHOENIX -- Cassie Dysthe is a 21-year-old single mom who works hard to stretch her paycheck.
"Every week I balance out what my paychecks are going to be, where it is going, what gas I can use, how many diapers I'm going to need for the next week," she said. "I'm very careful with what I do."
But, not careful enough. That's because when she was recently online looking at her balance, she noticed her bank, TCF, slapped her with several $28 daily fees totaling hundreds of dollars.
The amount sent Dysthe's account into a tailspin.
"I think it's ridiculous, I don't see how they can get by with doing it," she said.
It turns out, TCF Bank recently implemented a new $28 daily fee for every day a customer's account is in the red over a certain amount.
TCF says they warned customers about the new $28 daily fee clear as day on all customers' bank statements.
But Dysthe never saw it.
"If anybody's like me, when you go to your online banking you're not sitting there to read your statements, you're just looking at the balance or what you've used or how much you have left," she said.
3 On Your Side got a hold of TCF Bank officials and told them about Dysthe and her account that she can't seem to get back to normal.
As a result, TCF reversed the fees and returned more than $300 in penalites to her.
Dysthe is glad she contacted 3 On Your Side and has learned a lesson.
"Read your statements," she said. "Definitely, read you statements."
There are other new fees that your bank just might be implementing and you're not aware of it.
For example, some banks are increasing your minimal balance and others are penalizing you for not using your debit card enough. In other words, if you don't use your debit card a certain number of times in a month, you may have to pay a $15 fee or sometimes more.
Consumers need to stay informed and their first line of defense is reviewing their statements.
As for TCF Bank, they were really good to work with and 3 On Your Side appreciates their eagerness to assist Dysthe.