Checking Accounts Often Costly, Contain Hidden Risks, Study Finds
A new study reveals your checking account could be costing you a lot more than you think.
The study, from the Pew Health Group, called Hidden Risks: The Case for Safe and Transparent Checking Accounts, found that the average checking account in the U.S. has:
an $8.95 monthly fee,
an overdraft penalty fee of $35,
an overdraft transfer fee of $10,
and an extended overdraft penalty fee of $25 every seventh day the account is overdrawn.
