ATM and overdraft fees by banks and thrifts continue to climb notwithstanding legislation in the Congress to lower them, Bankrate Inc. the Florida-based finance and newsletter firm, reported.
In releasing its "2009 Checking Study," the Web-linked firm said its latest survey showed "record highs in almost every category." Bankrate said it conducted its latest study in August using data from the top five banks and thrifts in 25 U.S. markets.
Among its findings: bounced check fees and tiered fee structures now average $29.58 for a customer's first overdraft, up 2.1% from $28.95 last year.
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"ATM surcharges are up 12% this year to a new record high of $2.22, almost double what they were in 1999," said Bankrate analysts. Last year the ATM surcharge averaged $1.97.
The average monthly service charge for an interest checking account "hit a new high of $12.55, up almost 5% from last year," concluded the report from Bankrate.
In a press release, Bankrate also contends its report is "timely" considering "all the pending legislation over bank fees with banks claiming they're going to lower their fees soon."
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