Being Latino on Google Plus

Say Adios to your free checking account?

09/26/2011 By Leave a Comment

via USA Today – Only 45 percent of non-interest bank checking accounts are free, down from 65 percent in 2010 and 76 percent two

Illustration by Ron Coddington, USA TODAY

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.

Continue reading at USAToday.com

Filed Under: Business
About Being Latino Contributors

Being Latino contributors consists of individuals and partner organizations. They join us in our goal of providing our audience with a communication platform designed to educate, entertain and connect all peoples across the global Latino spectrum. Together we aim to break down barriers and foster unity and empowerment through informative, thought-provoking dialogue and exchanging of ideas. Giving a unified voice to the multitude of communities that identify with the multidimensional culture that is Latino.

Disclaimer: The views and opinions expressed in this article are solely those of the author and should not be understood to be shared by Being Latino, Inc.

Speak Your Mind

*