Thursday, September 11, 2014

Survey: Most Bank Customers Pay Little or No Fees

The majority of Americans—62 percent—pay nothing at all for bank services such as checking account maintenance and ATM access, according to a recent survey by the American Bankers Association. Most bank customers (74 percent) spend $3 or less in monthly fees—less than the cost of a gallon of gas.

“Banking services are a great value for consumers, and bank customers have more choices than ever before,” said Nessa Feddis, ABA’s senior vice president and deputy chief counsel for Consumer Protection and Payments. “Increasingly, consumers are finding that simple steps like having their paychecks directly deposited or using ATMs owned by their bank result in a free service that protects their money and makes it available 24/7.”

The annual survey of 1,000 U.S. adults was conducted for ABA by Ipsos Public Affairs, an independent market research firm, Aug. 7-12, 2014. ABA has conducted the survey annually since 1998.

Read the full release.

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