Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays Bank.
Did anyone else see today’s headline about bank overdraft fees? According to a recent report, U.S. banks are on pace to collect $38.5 billion worth of overdraft fees this year.
Can that number be right? Assuming that it is, then every man, woman, and child* in the United States will have paid an average of a little more than $125 apiece in overdraft fees by the end of they year..
On a per household basis (and assuming an average of 2.59 individuals/household*) this works out to roughly $325. Even more astonishing is the fact that just 10% of bank customers account for nearly 90% of these fees.
All I can say is: Wow. No wonder Matt hates big banks. 😉
I can’t even remember the last time we had an overdraft. How much do you expect to pay this year in overdraft fees?
*Note: Population numbers and household sizes are based on census estimates.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (692)
- Dish Network Customer Service SUCKS (534)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (325)
- How Much Should You Pay a Babysitter? (284)
- Ethanol Blended Gas = Lower Mileage? (272)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (227)
- Will Mac OS X Lion Kill Quicken 2007? (191)