How a lot will these widespread banking charges value you?
Reply:
Overdraft: $26.77
Month-to-month service charge: $15.65
Out-of-network ATM: $4.85
Questions:
- Do these common charges appear affordable to you? Why or why not?
- Why do you assume banks cost a charge to make use of their ATM for customers who don’t have an account at their financial institution?
- What steps can you are taking to keep away from banking charges and penalties?
Listed below are the ready-to-go slides for this Query of the Day that you should utilize in your classroom.
Behind the numbers (Bankrate):
“Different financial institution charges on the rise embody overdraft charges, Bankrate discovered, with the typical having climbed this 12 months to $27.08, up from $26.61 in 2023. This enhance comes after two straight years of declines, after the typical overdraft charge had peaked at $33.58 in 2021. Overdraft charges are nonetheless charged by 94 p.c of accounts, Bankrate surveyed, and so they can run as excessive as $38.
In the meantime, it might be getting more durable to keep away from month-to-month service charges for interest-earning checking accounts, with the typical minimal stability required to waive such a charge climbing to a file excessive of $10,210, Bankrate’s survey discovered.”
About
the Creator
Kathryn Dawson
Kathryn (she/her) is happy to affix the NGPF workforce after 9 years of expertise in training as a mentor, tutor, and particular training trainer. She is a graduate of Cornell College with a level in coverage evaluation and administration and has a grasp’s diploma in training from Brooklyn Faculty. Kathryn is wanting ahead to bringing her ardour for accessibility and academic justice into curriculum design at NGPF. Throughout her free time, Kathryn loves embarking on cooking tasks, strolling round her Seattle neighborhood together with her canine, or lounging in a hammock with a e book.
