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  • 74% of US financial institutions do not charge accountholders fees for PIN-based debit card transactions. 12% impose a fee on all PIN debit cardholders; 14% charge a fee to a portion of their cardholders. Transaction fees range from $0.25 to $1.00, with the average being $0.50. National Study by PULSE EFT Association conducted by Dove Consulting

  • 90% of the 5.6 million companies in America have fewer than 20 employees. US Small Business Administration

  • Americans now use debit cards more often than credit cards for in-store purchases, according to an American Bankers Association survey. MONEY, February, 2002, p23.

  • The Federal Reserve estimates there were 42.5 billion checks written and processed in the year 2000, down considerably from 49.5 billion negotiated in 1995. Federal Reserve Bulletin,

  • Checks used for retail non-cash payments declined from a level of 85.7% in 1979 to 59.5% in 2000. Taking the place of checks are credit and debit cards, ACH, and other forms of electronic payments. However, at least 23% of all checks written in 2000 were for consumer-to-consumer payments which are considerably more difficult to convert to electronic transactions than checks written for purchasing or bill-payment reasons. Federal Reserve Bulletin,

  • Operating expenses for off-premises ATMs run from a high of $1,624 per ATM per month to $732. 2002 ATM Deployer Study, by Dove Consulting for four ATM Networks: STAR, PULSE, NYCE, and CO-OP Network

  • Estimated deposits in commercial banks in the United States - including checking accounts, savings accounts and CDs - stood at $4.426 trillion in the week ending July 10, 2002, up $37.6 billion from the month before, and $59.6 billion from two months before. "Bank Accounts Swell as Market Slides" The Charlotte Observer, July 24, 2002

Copyright © 2002 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 12, No. 8, 10/02

First published on 10/01/2002

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