Consumer News, Financial & Insurance Fraud, Personal Protection

Bank Fees Up Dramatically

Bank Fees Up Dramatically
Posted: November 23, 2013 at 2:37 pm   /   by   /   comments (0)

Bankrate.com surveys bank fees annually and has found the costs associated with checking accounts haven’t gone up a little; they’ve gone up a lot!

Check out how much the following fees went up from 2007 to 2012:

Average overdraft charge — up 11%.
Average ATM surcharge — up 40%.
Average monthly service fee — up 142%.

Plus, the minimum balance needed to avoid a monthly fee jumped 365% in a five-year period to an average of $723 in 2012. So much for free checking.

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