Monthly bank fees up in 2012, survey finds

Monthly bank fees up in 2012, survey finds

Monthly bank fees up in 2012, survey finds

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by TRAVIS PITTMAN / KING 5 News

KING5.com

Posted on August 14, 2012 at 8:45 AM

A new survey finds that banking fees went up in the first half of the year, as did the minimum amount you need to keep in your account to avoid those fees.

Moneyrates.com reports monthly service fees rose from $11.28 to $12.08 on average. That’s an annual cost of about $145. About 35 percent of accounts surveyed did not have a monthly maintenance fee.

In order to avoid the monthly fee, the survey found customers need to have a minimum balance of $4,447, up from $3,591.

ATM fees also went up.

Moneyrates.com suggests customers shop around, consider an online bank or using a smaller bank to help cut down on monthly fees.

Read more about this survey and the methodology at Moneyrates.com.
 

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