Ex-Banker Tells How Not to get Ripped Off at a Bank

Americans have special relationships with their money and their banks. Putting money into a bank account is an act of trust, and it's difficult to think of a checking or savings account as a business transaction because the money is still yours -- the bank is just holding it for you and keeping it safe.

People may think of banks as a sort of altruistic non-profit, but everyone knows that they're a business and that those big vaults and tellers cost money. You might even expect a little bit of an upsell when opening a checking account, although you don't expect it to be like walking onto a used car lot or buying shoes at the mall. A business transaction is taking place, but often very slowly through loans or small but steady fees.