checking

Checking account fees rise but less steeply

Checking » Checking Account » Checking Account Fees Rise But Less Steeply

Interest checking barely lives up to its name

Interest checking barely lives up to its name

Interest checking accounts have become less onerous for account holders, but they still have little in the way of rewards.

The average balance requirement to avoid a monthly fee fell from $6,117 to $5,802, and monthly fees for customers whose balances didn't meet that mark fell from $14.75 to $14.64.

Unfortunately, the average yield for interest checking remains at 0.05 percent, and the most common payout remains at 0.01 percent.

That's why, in most cases, interest checking is still "not an attractive product," McBride says.

"The yields are still prohibitively low, and the balance requirements are still prohibitively high," he says.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

advertisement

Blog

David McMillin

Small banks pay up for data breaches

New statistics show that the Home Depot data breach cost small banks a lot of money. Find out how much.  ... Read more

Partner Center
advertisement

Connect with us