Whatever Happened To Free Checking?
Whatever happened to free checking? According to a survey by Bankrate.com, only 39% of non-interest checking accounts are free to all customers. That's down from 45% last year and down from 76% in 2009.
The survey also found the average monthly service fee on checking accounts is at a record $5.48. That's up 25% from Bankrate's survey a year ago. Of those surveyed, 72% said they would consider leaving their bank if it raised its fees on checking accounts.