Back to top Jump to featured resources

Viewing the bank fees tag archive

IMG_3227
Featured Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Nov 27, 2012

Free Checking is Rare at Big Banks, Common at Small

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/free-checking-rare-big-banks-common-small/

While just 24 percent of big banks offer totally free checking, more than 60 percent of credit unions and small banks do, according to a new report from the U.S. Public Interest Research Group. The report also found that credit unions and small banks have lower fees on average and do a better job of disclosing fees to prospective customers. Continue reading

interchange.jpg
Article filed under Banking, Independent Business | Written by Stacy Mitchell | 8 Comments | Updated on May 5, 2009

Soaring Credit Card Transaction Fees Squeeze Independent Businesses

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/soaring-credit-card-transaction-fees-squeeze-independent-businesses/

Independent businesses are largely at the mercy of Visa and MasterCard when it comes to the fees they must pay every time they swipe a credit card.  These fees, which are ultimately passed on to consumers in the form of higher prices, have soared from $27 billion in 2004 to $48 billion last year (or $427 per household). Recognizing the tremendous market power held by card processors, many countries now regulate credit card transaction fees, setting them at rates as low as one-sixth of what U.S. businesses pay.  Continue reading