Citizens Bank To Charge For Mailed Bank Statements

PITTSBURGH (KDKA) — If you’re a Citizens Bank customer, those monthly statements that you get in the mail are about to cost you.

In June, the bank is charging its customers $2 a month for something that has traditionally been free.

A Citizens Bank spokesperson was not available on camera but defended the new fee, saying more customers than ever are opting for electronic banking anyway.

Duquesne University Professor Tom Nist, a former banker, says electronic banking is not for everyone.

“To do electronic banking, you have got to have access to electronics and while that number is moving northward very rapidly across our society, there are still a lot of people who opt out of electronic banking or are just not inclined to do that,” he said. “The older generations are still not comfortable with that and probably never will be.”

Citizens says it will let those 65 and over still get their monthly paper statements for free — but other banks see a chance to pick off Citizens’ customers.

PNC, the largest bank in this region, does not charge for its monthly statements and neither does First Niagara, First Commonwealth Bank or Huntington Bank.

It remains to be seen whether Citizens Bank loses any customers at all over this fee, but with so many banking options in town, those who are really unhappy can certainly find another banking choice.

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One Comment

  1. swin says:

    Well I guess that just about wipes out the 0.0001% interest I’m getting on my account.

  2. sheriff says:

    This is a real hardship for people who don’t own or know how to use a computer. Fixed income people are hit hardest & this is just the banks way of say:Get lost, we don’t want your piddly business. Wait, the banks are not your friends & soon they will be charging us all a fee to view & do banking online. How about our useless legislators doing something about this & the runaway bank lobbyists influence.

  3. Bank Teller says:

    You got it Sheriff and people think Bernie Madoff was a pig, what about banks who know customers get paid on friday but won’t process the paycheck until midnight or saturday knowing that the atm or other transaction will default and cost the customer more money?

  4. Ronald C Shaffer says:

    I am glad to hear they will be mailing them free to people over 65 especially if you are on a small pension or fixed income.

Comments are closed.

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