Banks Not Charging More

Temporary Fee Waivers
Screen Shot 2020 10 21 At 8.57.26 Pm

Banks hold off on fees for customers.

For the first time in 15 years, banks are not charging you more to access your own money.

New analysis out today from Bankrate.

The average cost to use an ATM actually dipped slightly compared to 2019 to the lowest level since 2016.

Many banks offered temporary fee waivers due to the covid-19 pandemic.

However banks did increase other types of fees.

The average non-sufficient funds fee hit a new record of 33.47 this year up 11 cents from 2019 and nearly 10-dollars a decade ago.

 

Categories: Business, Dee Armstrong