lutherbeau
Joined: 09 Nov 2012
Posts: 10
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 Posted: Fri Nov 09, 2012 7:47 am Post subject: outrageous bank fee???? |
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outrageous bank fee????
Hello. New here. Not sure I am posting in the correct forum. Please redirect me if I need to repost elsewhere.
My elderly parents have asked me figure out if the MONTHLY fee they are being charged by their bank is reasonable. They are private clients of their local US Bank with a trust fund of approx $500K. The bank pays all their ongoing monthly bills (utilities, property taxes, health insurance, etc), manages their checking and VISA accounts, prepares their personal tax forms, and manages how their trust fund is invested. Not sure what other services the bank is providing. Monthly "trust fee" ranges from $500-$700. Is that a reasonable fee? What is a reasonable fee for the service that pays their bills, manages the checking and VISA accounts, prepares the annual tax return forms? (I'm thinking that fee must be included in the "trust fee"????)
Insight on all this appreciated. Links to easy to understand info on this subject appreciated as well. thanks
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