Banks and other financial institutions can minimize their losses on checking accounts by limiting the kinds that they offer, according to a new report from economic research firm Moebs Services.

Financial institutions lose an average 0.83% on their checking account portfolios because the cost of maintaining the accounts outweighs revenue, according to the study of 2,890 banks, thrifts and credit unions conducted between Jan. 2 and Jan. 10. Banks typically take a loss on checking accounts in the hopes of cross-selling other products to customers.

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