NORTH PALM BEACH, Fla.-Banks may be getting help from the federal government, but customers aren't getting any breaks from banks when it comes to fees. New data released by Bankrate.com found that bank fees are at an all-time high. The survey, which does not include credit unions, found:
* ATM surcharges rose to $1.97, an increase of 11% over the $1.78 charged one year earlier. The cost of using a foreign ATM was $1.46, up from last year's $1.25, putting the average cost of using an out-of-network ATM at $3.43 per transaction.
* The fees on bounced checks rose 2.5% to an average of $28.95 per check.
* The monthly service fee on interest-bearing accounts rose to a new high of $11.97. Also increasing was the minimum balance requirement, which now averages $3,461.84 in order to maintain a no-fee, interest-bearing account.
* On noninterest-bearing accounts, the minimum balance and maintenance fee decreased. The no-fee minimum balance requirement declined to $109.26, a considerable decrease from last year's $155.49. The monthly service fee is also declined to $1.93.
* Online banks have higher average minimum requirements to open either an interest or noninterest-bearing account than brick-and-mortar institutions, with the average minimum required to open an interest-bearing account at at $650.81, compared to $376.75 at a traditional bank. For noninterest-bearing accounts, the average minimum for online banks is $133.33 compared to $82.71 at a traditional bank.
