By  on April 18, 2018

Bank fees are taking a toll on households across the U.S., according to the latest report by international money transfer platform TransferWise — which was developed with Ipsos, a market research company. The research report, “Hidden Bank Fees and Their Consequences,” surveyed 1,000 U.S. consumers to analyze the impacts of covert bank fees.

“The lack of awareness is shocking — not that the fees exist, but that people are still paying them and not getting any real value for them,” said personal finance expert and certified financial planner Bobbi Rebell, who contributed insights to the report. “Why is that? The big issue here is being aware of them and taking proactive steps to avoid or minimize them.”

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