-advertisement -
Exclusive   2007 Checking Study
  STATISTIC: The average monthly service charge for interest-paying  
  accounts jumped nearly $1 a month.  

Bounced-check fees hit new high

Average bounced check fee hits new high
The average cost of a bounced check, referred to as a nonsufficient funds fee or NSF fee, climbed 3 percent to a record high of $28.23. This is the second survey in a row where the average has hit a new high.

The move higher was lopsided, with 88 banks increasing the fee against just 19 that reduced the fee in the past year. One final point, the survey gathers the cost of the first bounced check. But with the use of tiered structures by some banks, the cost of overdrawing an account can quickly escalate.

Average nonsufficient-fund fee
Create a news alert for "checking study" -- Posted: Sept. 26, 2007
<< Previous article | Next article >>

New highs for opening interest accounts
Avoid fees by maintaining minimum balance
Yields are still very slow
Winners and losers: Certificates of deposit
Winner or loser: Mortgage shopper
Winner or loser: Home equity loans

- advertisement -
- advertisement -