Some Fla. Bank Fees Reduced in '99
Palm Beach Post (08/03/00) Vol. 75, No. 7 p.1D; Ostrowski, Jeff

According to a new Federal Reserve study, several bank fees dropped in Florida last year, going against the national trend as well as the state's trend and reputation. Florida has been known among consumer advocates as being among the most expensive states in the country for bank customers--a result of high fees and a required high minimum balance. Ward Kellogg, president of Admiralty Bank in Palm Beach Gardens, said that competition has spurred the change, as Florida residents are now making their banking decisions based on fees. The ATM surcharge for non-customers in Florida averaged $1.30 in 1999, a 6 cent drop from the year before. A balance inquiry by a non-customer at an ATM fell from $1.09 to 97 cents and the average stop-payment order dropped by 15 cents to $23.94. The federal study found that customers of large, nationwide banks like Bank of America pay higher fees than those customers belonging to small banks located in one state.


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