Having an account did not eliminate banking costs
The Fed’s May report separates account access from fees.
- Event / announcement date
- 2026-05-13
The Federal Reserve released its household-finances report on May 13, 2026, based on an October 2025 survey. [1]
Six percent of adults were unbanked: neither they nor their spouse or partner had a checking, savings or money-market account. Among account holders, 12 percent reported overdraft fees, including 25 percent of Black account holders. These differences do not establish causes. [2]
The online analysis covered 12,934 adults in October 2025. Panel members lacking internet access received it; participation bias remained possible. [2]
FDIC’s fee guide directs account shoppers to disclosures and fee schedules. Maintenance waivers can require direct deposit or minimum balances; missing a condition can change the price actually paid. [3]
It also recommends low-balance alerts and describes accounts without overdraft or insufficient-funds fees. Checking those terms distinguishes an available account from one affordable for a customer’s transactions. [3]
The source
- Federal Reserve Board: Economic Well-Being of U.S. Households in 2025 report released ↗
Source date 2026-05-13 · reviewed October 29, 2026 - Federal Reserve Board: Economic Well-Being of U.S. Households in 2025 ↗
Source date 2026-05-13 · reviewed October 29, 2026 - FDIC: Overdraft and account fees ↗
Undated reference · reviewed October 29, 2026 · Updated August 17, 2022. No publication date is given.
About this item: Retrospective report. No first-hand reporting or independent testing is claimed. Corrections policy.
