Sixty-one percent of bank customers pay no monthly account fees for banking services, according to results from ABA’s annual consumer banking released today. An additional 11 percent of customers pay $3 per month or less. Each figure is down one percentage point from 2014.
Ten percent of customers – up from 7 percent a year before — pay over $10 per month in fees according to the survey of 1,000 U.S. adults, conducted annually for ABA by Ipsos Public Affairs since 1998.
“We’ve seen tremendous innovations to bank services over the last decade that have allowed our customers to bank in the way that is most convenient for them and at little or no cost,” said ABA SVP Nessa Feddis. “Today’s consumers have become adept at using the many options that may allow them to bank for free, whether it’s maintaining a minimum balance, opting for direct deposit or using ATMs owned by their bank.”
