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Reproduced from Bankrate; Chart: Axios Visuals

The average yield bank customers get for interest-bearing checking accounts tied a record low of 0.04% this year — yet fees for having such an account and the minimum balance required to avoid such fees both rose to record highs, according to Bankrate’s 2020 checking account and ATM fee study.

The state of play: The average fee for insufficient funds rose 0.3% to $33.47, also the highest it has been in the 23-year history of the annual study.

Yes, but: There was some good news for consumers.

  • The total average cost of using out-of-network ATMs decreased slightly, down 8 cents to $4.64, the lowest since 2016.
  • Average monthly fees hit a six-year low of $5.27.
  • 47% of accounts that don't pay interest were free.

Go deeper

Oct 29, 2020 - Health

U.S. tops 88,000 COVID-19 cases, setting new single-day record

Expand chart
Data: COVID Tracking Project; Chart: Axios Visuals

The United States reported 88,452 new coronavirus cases on Thursday, setting a single-day record, according to data from the COVID Tracking Project.

The big picture: The country confirmed 1,049 additional deaths due to the virus, and there are over 46,000 people currently being hospitalized, suggesting the U.S. is experiencing a third wave heading into the winter months.

Updated 13 mins ago - Politics & Policy

Sen. Kelly Loeffler to return to campaign trail after 2nd negative test

Sen. Kelly Loeffler addresses supporters during a rally on Thursday. Photo: Jessica McGowan/Getty Images

Sen. Kelly Loeffler's (R-Ga.) campaign announced Monday that she "looks forward to getting back out on the campaign trail" after testing negative for COVID-19 for a second time, following earlier conflicting results.

Why it matters: Loeffler has been campaigning at events ahead of a Jan. 5 runoff in elections that'll decide which party holds the Senate majority. Vice President Mike Pence was with her on Friday.

Updated 4 hours ago - Politics & Policy

Key government agency says Biden transition can formally begin

General Services Administrator Emily Murphy. Photo: Alex Edelman/CNP/Getty Images

General Services Administrator Emily Murphy said in a letter to President-elect Joe Biden on Monday that she has determined the transition from the Trump administration can formally begin.

Why it matters: Murphy, a Trump appointee, had come under fire for delaying the so-called "ascertainment" and withholding the funds and information needed for the transition to begin while Trump's legal challenges played out.