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A comment on Before buying a NYT subscription, here's what it'll take to cancel it. Parent comment

Re:Before buying a NYT subscription, here's what it'll take ... by OJFord on Thursday February 18, 2021 @03:57AM (#26177540)
Revenue from account fees must be peanuts, they make their money lending/investing/etc. deposits, in normal times interest rates are positive, so they might even pay for custom, getting more deposits, giving them more capital to make their money from.

Charging for bank accounts in North America is just like commission on retail brokers - everyone else is doing it, so why not? Eventually probably 'fintech startup challenger banks' with the novel idea of not charging will gain too much market share, and the big boys will scrap the fees too in order to compete (and barely feel it).

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Re:Before buying a NYT subscription, here's what it'll take ... by technothrasher on Thursday February 18, 2021 @06:52AM (#26178777)
The big US banks each make over $1.5B in overdraft fees yearly. Fees on consumer accounts make up about 3-4% of the big banks annual income. Not as much as they make on consumer interest payments, but those are still some pretty big peanuts. I think they'd feel it if they scrapped fees.

https://money.cnn.com/2017/02/22/investing/atm-overdraft-fee...

https://www.depositaccounts.com/blog/banks-income-fees.html

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