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
- Manhunt underway after officer shot in SF
- Petaluma police say thieves targeting utility trucks
- 93-year-old Marin Co. man missing for over a week
- $1.2M bond set for mom who drove kids into ocean
- Tips for adjusting to daylight saving time
- International Women's Day walk kicks off in SF
- 'Sunday Streets' returns to San Francisco
- 750 immigration detainees on hunger strike in US
- Partner of dead LA officer in stable condition
- Plan to build median on GG Bridge moves forward
- Special ed cheerleading squad thrills Livermore HS
- Wheel of Fortune is in Northern California!
- weather: Bay Area weather forecast for Sunday
- roundup: Officer-involved shooting; Murder case