Retail Fees and Services of Banks statistics


TYPE OF
ACCOUNT	1996	1997	1998
OR SERVICE

NONINTEREST CHECKING ACCOUNT

Percent offering	97.8	98.7	98.5

Single-balance, single-fee account: ¹
Percent offering	32.9	39.3	35.6
Monthly fee (low balance)	6.34	6.09	6.43
Minimum balance to avoid fee	480	479	499
Minimum balance to open	123	124	115

Fee-only account: ²
Percent offering	34.2	33.3	36.3
Monthly fee (low balance)	5.02	4.49	4.73
Check charge:
Percent charging	45.8	32.4	45.0
Average	0.34	0.38	0.40
Minimum balance to open	82	61	76

Free account: ³
Percent offering	8.7	3.0	17.3
Minimum balance to open	62.71	(NA)	43

NOW ACCOUNTS ⁴

Percent offering	97.3	97.6	94.3

Single-fee account: ¹
Percent offering	44.0	56.7	50.8
Monthly fee (low balance)	8.11	7.81	8.07
Minimum balance to avoid fee	1,079	1,052	1,109
Minimum balance to open	654	663	616

Single-fee, single-check-charge account: ⁵
Percent offering	22.7	16.8	15.8
Monthly fee (low balance)	6.30	6.87	6.30
Check charge	0.21	0.21	0.21
Minimum balance to avoid fee	1,103	1,057	1,071
Minimum balance to open	722	701	724

SAVINGS ACCOUNTS

Simple passbook account: ⁶
Percent offering	36.1	32.0	32.6
Monthly fee (low balance)	1.46	1.80	1.72
Minimum balance to avoid fee	136	134	144
Minimum balance to open	88	88	88

No-fee passbook account:
Percent offering	29.2	26.5	28.2
Minimum balance to open	34	25	41

Simple statement account:
Percent offering	43.9	39.1	43.2
Monthly fee (low balance)	1.97	2.18	2.25
Minimum balance to avoid fee	190	174	197
Minimum balance to open	138	106	108

No-fee statement account:
Percent offering	14.8	16.1	15.1
Minimum balance to open	50	203	44

AUTOMATED TELLER MACHINES (ATMs)

Percent offering	72.9	79.4	86.5

Annual fee:
Percent charging	13.4	16.7	15.1
Average	7.94	11.51	13.11

Card fee:
Percent charging	10.0	6.2	5.4
Average	4.89	3.88	4.56

Fees for customer transactions on us: ⁷
Withdrawals:
Percent charging	6.8	7.4	6.4
Average	0.59	0.65	0.68
Deposits:
Percent charging	2.1	3.3	5.2
Average	(NA)	(NA)	0.71
Balance inquiries:
Percent charging	4.4	6.7	5.7
Average	0.70	0.65	0.67

Fees for customer transactions on others: ⁷
Withdrawals:
Percent charging	79.8	67.0	74.4
Average	1.10	1.06	1.10
Deposits:
Percent charging	64.7	56.8	70.7
Average	1.08	1.03	1.10
Balance inquiries:
Percent charging	64.7	55.2	63.2
Average	1.03	0.99	1.05

Surcharge: ⁸
Percent charging	44.8	60.1	77.9
Average	1.19	1.14	1.20

NA Not available.
1 A monthly fee for balances below the minimum, no monthly fee for balancesabove the minimum, and no other charges.
2 A monthly fee, no minimum balance to eliminate the fee, and a charge percheck in some cases.
3 No monthly fee or per-check fee, although a charge may be imposed forcheck printing.
4 NOW (negotiable order of withdrawal) accounts are checking accounts thatpay interest and often have fee structures that differ from those of noninterestchecking accounts.
5 A monthly fee and a check charge for balances below the minimum and nomonthly fee or other charges for balances above the minimum.
6 A monthly fee for balances below the minimum and no fee for balancesabove the minimum.
7 An institution's "customer" is one who has an account at the institution.A customer's ATM transactions in which the machine used is that of the customer's institution are called "on us"; a customer's transactions in which the machineused is that of another institution are called "on others".
8 An ATM surcharge is a fee imposed by the ATM's institution, typically on everytransaction by the machine's noncustomer users.

Source: Board of Governors of the Federal Reserve Systems,Annual Report to the Congress on Retail Fees and Services of Depository Institutions,June 1998 and June 1999.

http://www.federalreserve.gov/rnd.htm

https://allcountries.org/uscensus/807_retail_fees_and_services_of_banks.html

These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.

Copyright � 2019 Photius Coutsoukis and Information Technology Associates, all rights reserved.

807. Retail Fees and Services of Banks