Economics 101

Well, banks are going to raise their rates again.

$38 per NSF (Not Sufficient Funds//aka Bounced Check)

Nearly $5 per ATM transaction fees (on machines that do not belong to your bank)

<blockquote> <u>HIGHEST ATM FEES </u> 

§  Milwaukee, WI  ($4.66)

§  Houston, TX ($4.67)

§  San Diego, CA  ($4.70)

§  Denver, CO  ($4.75)

§  Phoenix, AZ  ($4.96) </blockquote> 

Some of those fees are already higher than the proposed hike, so I don't know how much they will go up.

<blockquote> <u>LOWEST ATM RATES </u> 

§ Los Angeles, CA  ($4.15)

§  St. Louis, MO  ($4.12)

§  Pittsburgh, PA  ($4.03)

§  San Francisco, CA  ($3.93)

§  Cincinnati, OH  ($3.75) </blockquote>>

Interesting that LA and SanFran are among the lowest prices ... I wonder why?  Actual

Y I'm shocked ANY CA city is on the list.

<blockquote> <u>AVERAGE ATM FEE </u> 

past 12 Months

$ 4.35  per out-of-network transaction

UP 5% from year before </blockquote> 

<blockquote> <b>Out-Of-Network Fees</b> 

Last 5 Years

UP 23% </blockquote> 

I did not see anything about the growth of fees before these 5 years, so I don't know if that is the biggest jump there is, but it seems pretty significant to me.

§  $8Billion  amount collected in fees last year for ATM fees

§  $32Billion amount collected for overdraft fees last year by banks

The banks, of course, are blaming new taxes and fines that will be hitting them this year ...

I'm guessing more people will be putting ones under their mattresses again - because pretty soon they are going to charge you for even having an account in a bank ... Oops ... Wait ...

They already do that!