Checking Fees, Unsurprisingly, Are Going Up

The country's banking institutions are doing something unbelievable, in that they are really going to reduce

bank fees. Just kidding; they are not going to do that, as the recent bi-annual survey by MoneyRate found

checking charges and other bank fees are going up. The country's banking institutions are doing something unbelievable, in that they are really going to reduce

bank fees. Just kidding; they are not going to do that, as the recent bi-annual survey by MoneyRate found

checking charges and other bank fees are going up. The country's banking institutions are doing something unbelievable, in that they are really going to reduce

bank fees. Just kidding; they are not going to do that, as

the recent bi-annual survey by MoneyRate found checking charges and other bank fees are going up. The

country's banking institutions are doing something unbelievable, in that they are really going to reduce

bank fees. Just kidding; they are not going to do that, as the recent bi-annual survey by MoneyRate found

checking charges and other bank fees are going up. The country's banking institutions are doing something unbelievable, in that they are really going to reduce

bank fees. Just kidding; they are not going to do that, as the recent bi-annual survey by MoneyRate found

checking charges and other bank fees are going up. The country's banking institutions are doing something

unbelievable,

in that they are really going to reduce bank fees. Just kidding; they are not going to do that, as the recent bi-annual survey by MoneyRate found checking charges

and other bank fees are going up.The country's banking institutions are doing something unbelievable, in that they are really going to reduce bank fees. Just kidding; they are not going to do that, as the recent bi-annual

survey by MoneyRate found checking charges and other bank fees are going up. The country's banking

institutions are doing something unbelievable, in that they are really going to reduce bank fees. Just kidding; they are not going to do that, as the recent bi-annual

survey by MoneyRate found checking charges and

other bank fees are going up. The country's banking institutions are doing something unbelievable, in that they are really going to reduce bank fees. Just kidding; they are not going to do that, as the recent bi-annual

survey by MoneyRate found checking charges and other bank fees are going up.

Checking charges and other bank charges going up a fact of life

Whenever possible, banking institutions will add more charges. Last year, Bank of America tried to charge a $5

monthly debit card fee, which ended in catastrophe. Banking institutions are always trying to see what they can get away with on the subject of charging extra fees.

However, if anything, banks could be credited for consistency. Last year, bank account charges such as checking account charges and so forth went through

numerous rounds of raises. Numerous rounds of bank fee increases have been noted already this year. A newly released survey by MoneyRate, according to Forbes, has revealed that checking fees and other bank charges, are

indeed trending upward again this year.

Opening balance and overdraft up, among other groups

The MoneyRate survey showed that average opening balances increased from $391.41 to $408.76, according to Forbes. There were other fee increases seen in the

survey, which is released every few months. The survey looks at over 100 banking institutions worth of data such as the 50 largest banking institutions, according to CNN.

There was an increase in overdraft fees from $29.23 to $29.83. These charges are criticized because they are really costly, which is why a lot of people get payday

loans to avoid them.

The largest increase was in the minimum balance required to avoid account fees, which shot up more than

$850 to $4,446.57, a 24 percent increase from the previous survey, when it was $3,590.83.

Considering monthly service fees increased from $11.28 to $12.08, the average amount paid for an account per

year was $145, CNN pointed out. Medium banking institutions averaged $11.87 service fees while small

banks had $9.88 service fees. Average large banks charged $13.88 in account fees. It is obvious that larger

banking institutions charge much more than smaller banks do.

Out of network ATM charges increased 18 cents to $1.29, though regular ATM fees hardly increased also.

There was a three cent increase for non-customer ATMs to $2.40.

Best choice credit unions for free checking

Only 21 percent of big banking institutions offer free checking right now, and 46 percent of small banks offer

it too. Only 35 percent of banks total offer free checking, which is a decrease from 39 percent last year.

There are 72 percent of the largest credit unions in the country that offer free checking accounts, a recent Bankrate survey showed, according to the Chicago

Tribune. That is a slight drop from last year's 76 percent, but it is still the best choice in case you are looking for

free checking.

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