Moebs $ervices executed a statistical survey designed by Professor George Easton of Emory University for 2,014 banks, savings institutions and credit unions in the United States between June 12th and June 22nd, 2009. Every institution was called by trained surveyists, audio audited by two trained staff, and reviewed by the survey manager and survey analyst and, to insure accuracy, 48% of the institutions were re-surveyed at least once.

Earlier in June, merchants and pay day lenders were statistically surveyed. Depositories were statistically surveyed on their commercial service offerings following the consumer survey.

Among the significant results were:

1. 44.5% of all banks and credit unions have overdraft income greater than net income.
2. The national median for overdraft fees increased from $25.00 in 2008 to $26.00 in 2009.
3. This is the first time overdraft fees have increased in a recession.
4. Higher overdraft fees were led by Wall Street Banks, with assets greater than $50B, charging $35.00 per overdraft.
5. Some national retail merchants charge more than $35 for a bad check exceeding even the Wall Street Banks.
6. Wall Street Banks overdraft fees are 78.5% of what a Pay Day Lender would charge.
7. 85.9% of all depositories offering overdrafts allow the consumer to opt out at any time.
8. Less than 1 out of 5 depositories pay large items first when processing checks nightly.

There were many other significant findings on checking account, debit card and ATM pricing and services.

For more information or for permission to republish content from the Moebs $ervices site, please contact Rhoda Nybeck at 800-237-3317 or info@moebs.com.

Register now for immediate access to the 2009 survey results. Already registered? LOG IN NOW

Financial institution registration

PRESS - 2009 Survey Results available by request only. Please call 800-237-3317.

Once registered, you may also access data from our other two online information resources:
Data on non-interest expense and Overdraft Performance Calculator