Bank Survey: Consumers Fed Up with Fees Posted by AVCU on 11:50 AM

TD Bank's recent survey of over 3,000 consumers shows that bank customers across the country are dissatisfied with the checking account fees they are being charged. The Checking Experience Index resulted in only 10% of account holders expecting to pay for their checking account.  The nationwide survey polled consumers with checking accounts at various banks.  Over 1/3 of respondents say they are extremely, or very likely, to switch banks to avoid fees. 14% have changed financial institutions because of the cost of their account. Among other highlights:

• 38% rank non-bank ATM fees as most frustrating
• 27% feel similarly about overdraft fees
• 13% ranked minimum balance fees as the most frustrating

The survey also asked respondents to rate their banks’ accessibility, responsiveness and day-to-day experience. 

Read TD Bank’s full press release on the survey.