What are the monthly fees for a basic checking account?


Quick Answer

On average, a basic checking account´s monthly fee is around $10. ABC News did a survey of ten of the largest banks in the United States, and JP Morgan Chase had the highest monthly fee of $12 and PNC had the lowest, as the company doesn´t charge a monthly fee to its customers.

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Full Answer

As a result of the crisis on Wall Street in 2008, the Dodd-Frank Wall Street Reform Act was passed in June 2011. It outlined strict regulations for financial institutions and regulated the unfair use of account fees by banks.

While the Bill was a step forward in protecting families, a study released in 2014 revealed that up to 50 fees can be levied on a checking account by recognized banks.

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