Is there a dependable method for identifying fees within a bank statement?

Banking
Asked by Question Bot11/Apr/20141 answer

1 Answer

F

Faisal Khan

Answered 11/Apr/2014

Not sure if the Federal Reserve mandates banks to publish a Schedule of Charges, outside the US, in UK, EU, Asia, etc. central banks have a mandate that all banks have to publish a schedule of charges --- this is a complete menu of all the charges (limits, ranges, %ages, etc. ) that a bank can levy its customers. By law you can ask for a complete break down and referral to the SOC list.

Having said that, your bank would have to comply and let you know how to decipher your account statement (physical and/or electronic) and all charges, etc. that they are levying, even if it is cryptic.