Customers Could See Increases in Their Bank's Fees

Goodshoot/Thinkstock(NEW YORK) -- If they are forced to charge retailers less money for handling debit cards, banks may end up losing billions of dollars in fees and look elsewhere to make up for the lost revenue.  This could result in higher bank fees for customers.

Greg McBride of Bankrate.com advises customers to watch out for any changes in their monthly statements.

"If there's a little insert in there that's an updated fee schedule, read it very closely.  What that means is something on there has changed," he says.

Some fees for cash withdrawals are also going up.

"Avoiding ATM fees requires planning ahead.  Limit your withdrawals to your bank's ATMs," McBride says.

If you're unhappy with your bank and its fees, there are thousands of banks and credit unions to choose from.

"There's plenty of choice and there's plenty of better offers out there you just have to be willing to search around to find the institution that's giving the best value for your money," McBride adds.

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