Article: Moebs Services Research: Retail Merchants' Bad-Check Fees Double Consumer Penalties for Overdrafts


Wireless News
08-04-2009
Moebs Services Research: Retail Merchants' Bad-Check Fees Double Consumer Penalties for Overdrafts
Type: News

Consumers can expect to pay twice the amount they would normally be charged for a bank overdraft fee when they make a retail purchase with a bad check, according to a recent national survey by Moebs Services, an independent economic research firm.

Moebs further noted that its survey findings conclude that the median cost of a merchant overdraft charge is $25. Added to the median $26 overdraft charge from Main Street community banks and credit unions or the $35 overdraft charge from Wall Street banks, consumers will pay between $51 to $60 for writing a bad ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!