BOSTON – A survey by the Mass. Office of Consumer Affairs and Business Regulation found that Bay State consumers can save money by shopping around for low-cost checking accounts.
The “Lowest/No-Fee Checking Account Survey” examined data from the state’s largest 15 banks for the cost of their least expensive checking accounts.
The survey found that some banks charged no fees or minimum balances, while other institutions charged fees of $10 per month for their lowest-cost accounts. Some banks required no minimum deposit, while others required a $25 to $100 deposit to open an account. Some of the banks required balances ranging from $100 to $1,500 to avoid a monthly maintenance fee.
Fees charged to consumers varied greatly depending on their habits and practices, the survey said. Some banks charged consumers monthly fees for using tellers rather than ATMs. Some charged fees for receiving paper statements.
The full survey is available at www.mass.gov/ocabr/docs/
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.