MINNEAPOLIS (WCCO) — A national study found that consumers are facing higher banking fees, but the fees are lower in the Twin Cities than in most other cities.
The survey by bankrate.com looked at fees in 25 large cities and found that Minneapolis has the nation’s second lowest ATM fees and the fourth lowest fees for bounced checks.
“Some of that’s a reflection of the fact that some of the locally-based banks tend to have more competitive pricing, and that’s a boost to Minneapolis-based consumers,” said Bankrate analyst Greg McBride.
NewsRadio 830 WCCO’s Steve Murphy Reports
The study also found that the percentage of free checking accounts nationwide has fallen from 76 percent just two years ago to only 45 percent in 2011.
If you are interested in seeing the full study, click here.