Bankrate.com is out with its annual checking study. "The 2008 study reports another record-high year for fees on everything from ATM use to bounced checks," says Bankrate.com. If you bounce a check or have to use an ATM machine that doesn't belong to your bank, you'll spend more money this year for your troubles. But, according to the study, there are also several ways that you can keep bank costs down.
These are the five conclusions from Bankrate.com's survey:
1. Bounced check fees hit new high -- again (link here)
2. ATM surcharges and fees continue climbing (link here)
3. Interest accounts require high minimums (link here)
4. Online banking can be pricey (link here)
5. Know your banking habits and save money (link here)
With all of the banking consolidation taking place this year, I don't see the cost of doing business with banks going down anytime soon. Still, the study does offer some tips on what you can do to minimize the damage. If you have the time, the study is a worthwhile read.