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Highlights of the Spring 2002 Checking Account Pricing Study

See the most recent version of the checking study.

Key findings

Average ATM surcharge for non-customers:
Traditional: $1.47
Internet: $1.37

Average fee customers are charged for using another institution's ATM:
Traditional: $1.38
Internet: $1.28

Bounced check fees (NSF)
Traditional: $25.21
Internet: $24.45

Percentage of free checking accounts:
Traditional: 8.7%
Internet: 24%

Non-interest checking accounts

Average minimum to open:
Traditional: $74.98
Internet: $91.67

Average minimum to avoid fees:
Traditional: $352.65
Internet: $225.00

Average monthly service fee:
Traditional: $6.11
Internet: $4.83

Interest-paying checking accounts

Average minimum to open:
Traditional: $718.40
Internet: $784.69

Average minimum to avoid fees:
Traditional: $2,330.60
Internet: $1239.10

Average monthly service fee:
Traditional: $10.67
Internet: $7.36

Average yield:
Traditional: 0.61%
Internet bank: 1.84%

 

-- Posted: March 28, 2002

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See Also
Bankrate's Spring 2002 Checking Study
MAIN: Checking fees going down
Know your checking style
ATM surcharges keep soaring
Internet banks still a better bet?
Key highlights of the study
CHARTS: Find the best checking account for you

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