Statistics, Facts & Such

It is estimated that as many as 700,000 people in the U.S. are victims of identity theft each year. It costs an average of $808, and 175 hours of time during the next 23 months, to clear up discrepancies related to identity theft. Business Wire, Olympia, WA, 7/23/01

The average U.S. household has 3.7 accounts in three or more financial institutions. Forrester Research, Cambridge, 7/16/01

It is estimated that as many as 19 million Americans will use aggregation services by 2003, and that number will swell to 35 million by 2004. Celent Communications, Cambridge, 7/16/01

Bankrate.com Spring 2001 key stats:

Average yield - interest checking - 1.17%
Minimum balance required to open interest earning checking account - $684.24
Minimum balance required to open non-interest checking account $75.53.

Account fees

Monthly - interest checking - $10.77

Monthly - non-interest checking - $6.21

NSF fees - Average - bounced - $24.45

97% of institutions offer OD protection on interest checking, and 96% do on non-interest checking accounts

96% of institutions return canceled checks or images on interest checking, and 82% do on non-interest checking accounts

Key ATM findings

Average surcharge - $1.44

82 percent of institutions offer consumers free point of sale access

Spring 2001 Checking Account Pricing Study by Bankrate.com®

Just over one half United States community banks now have Internet-enabled services. 69% of the other half plan to do so at least by 2002.

RSM McGladrey, Inc. Survey, Bank Technology News, 6/7/01

"...it is estimated that only about 13 percent of U.S. households currently use the Internet to bank..." Comptroller of the Currency, John D. Hawke Jr., The Arizona Republic, 6/11/01

Copyright © 2001 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 11, No. 7, 7/01