7 On Your Side
'Free' checking is getting expensive
"Free" checking accounts are not necessarily free anymore. In fact, it is getting pretty expensive.
The Wall Street Journal is reporting that so-called "free" checking accounts are more expensive than ever.
To avoid a monthly fee, customers must keep an average balance of $723 in their checking account. That's 23 percent more than last year.
Those paying for accounts are paying more too: the average monthly fee for non-interest checking accounts rose 25 percent to about $5.48. And that is not the only place where bank customers are paying more.
Financial website, http://www.bankrate.com/, says ATM surcharges rose 4 percent, hitting a record high of $2.50 charged, on average, for using another bank's money machine.
Here are the cities where it cost most to use an out of network ATM Denver is the most expensive with a charge of $2.80, followed by a tie between New York and Seattle at $2.70 then San Francisco and Houston are tied at $2.69.
banks, 7 on your side, michael finney
- BART'S top cop to have auditor assess reforms
- President Obama renews calls for nuclear reductions
- Alameda County Fair opens with new food, new rides
- Hundreds allowed back home after Calif. wildfire
- South SF husband and wife charged with pimping
- New Colo. wildfire prompts evacuations of homes
- Giants pitcher Sergio Romo gets ice cream flavor
- Blanco's 2-run triple in 7th helps Giants win, 4-2 22 min ago
- Woman stabbed, killed on Hollywood's Walk of Fame
- Oakland theater to host "Fruitvale Station" screening
- Sonoma-Marin Fair holding "Ugliest Dog" contest
- abcnews: Pope invites Down syndrome teen for a spin
- roundup: Controlled burn; Carjacking arrests
- weather: Bay Area weather forecast for Wednesday