BofA, Wells Fargo ends free checking

Here's the story:


Free checking accounts have been offered by many banks over the past decade. However, with loss of revenue due to the new regulatory rules, some of those banks are preparing new fees on basic services to try to replace some of their lost revenue. This is expected to bring an end to free checking accounts for many Americans.


Wells Fargo to end free-checking offers July 1. Click here.


And I would not be surprised if JP Morgan Chase, Citigroup, and other banks will follow Wells Fargo and BofA.