Banks Requiring Higher Balances To Avoid Fees

Bankrate has some depressing news: the balance requirements on interest accounts are skyrocketing.

Since last year’s survey, the average balance requirement to avoid fees on an interest account jumped almost 25 percent, from $2,660.49 to $3,316.60. Imagine keeping more than $3,300 in a low-yielding account, just to avoid fees!

Ew! The good news is that you can still get a free checking account, but it won’t pay interest. There are good options out there, it’ll just take a bit of shopping around. Don’t leave your money in a low-interest account just to avoid fees unless you have a darn good reason for doing so.

Avoiding interest-account fees costly [Bankrate]