WASHINGTON — A survey by the American Bankers Association has found that 65% of consumers spend $3 or less in monthly fees for bank services such as checking account maintenance and ATM access.
The portion of consumers this year that pay no bank fees grew to 52%, a 9% increase from 2006, the association said.
"Bank customers are smart shoppers and by choosing products based on need, price and convenience, they are able to minimize the cost of banking services," said Nessa Feddis, ABA senior federal counsel and retail banking expert.
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