NEW YORK — Automated teller machine and bounced check fees are at an all-time high, according to a new study from Bankrate.com.
Bounced check fees hit a new high of $27.40, up from $27.04 in the spring 2006 edition of the survey, while ATM surcharges set a record high at $1.64, up from $1.60. The minimum balance required to avoid fees on an interest account also reached a new high at $2,660.49, up 8%. The average minimum deposit required when opening a non-interest account also increased by a notable percentage, rising 21% from $72.43 to a new high of $87.67. The average minimum balance required to open an account and earn interest shot higher from $429.76 to $615.41 since the spring survey, a 43% increase.
Bankrate's semiannual study surveys 462 accounts from the banks and thrifts in 25 large markets to find the latest trends on checking accounts and ATM fees. The study also compares checking accounts offered by online banks.
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