Bankrate’s new study provides the data to back up what most of us already knew; banks are raising fees for overdrafts, for account maintenance, and for ATM use (both in-network and out-of-network) in an attempt to bolster revenues.
Minimum balance requirements (generally in lieu of monthly maintenance charges) are up as well:
Mirroring their noninterest brethren, the average minimum to avoid fees on an interest checking account rose $511.22 to $3,883.40,” reports Claes Bell of Bankrate.com.
Bankrate also provides tips for those seeking to minimize banking-related expenses.
Read full article: http://www.bankrate.com/finance/checking/7-key-checking-trends-for-the-coming-year-1.aspx