UNDATED (WTVB) - If you own a bank account, in many instances, you are paying higher fees than ever. A new study by BankRate says that the fees customers pay to their banks are at an all time high.
Nicholas Danner with Greenpath Financial in West Michigan says new regulations have caused banks to look at their customers as potential revenue streams with their loan volume not what it used to be. Danner says there are ways to avoid fees, but you have to be a smart consumer, and find the type of bank account the fits your needs. He also says credit unions can be a cost-efficient alternative to traditional banks.