via USA Today – Only 45 percent of non-interest bank checking accounts are free, down from 65 percent in 2010 and 76 percent two
years ago, according to a survey released Monday by Bankrate.com. Fees, meanwhile, are rising: The average monthly fee for a non-interest account is $4.37, up 75 percent from a year ago.
Banks are adding fees to recover from new regulations that could cost billions in lost revenue, says Greg McBride, senior financial analyst for Bankrate. Starting Oct. 1, the maximum fee banks can charge retailers when customers pay with a debit card is 21 cents, down from an average of 44 cents. Last year, the Federal Reserve Board prohibited overdraft fees unless customers sign up for the service.
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