Banks continue to infuriate customers with excessive fees. But banks’ love of fees is understandable. In an interview with NBC10 Philadelphia, Alex Matjanec, co-founder of, explains that deposit accounts cost banks about $300 a year each, but earn only about $115.

This year, he expects a bank account could be susceptible to up to 49 different types of fees.

Most of them are avoidable, but you may have to alter your banking habits. Otherwise, you can always switch banks if you find yourself overloaded with fees.

Watch the segment below:

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  • Don’t those cost/revenue figures come from Moebs ($300 vs. $115)? I’m not entirely sure how much stock should be put in those numbers. It’s very, very tricky trying to calculate what a checking account costs. Moebs’ numbers certainly lend credence to the “more fees” argument. But the range of deviation from the Moebs average must be huge. What does it cost USAA to provide checking when they have only one branch? What does it cost BofA with 6,000 branches and thousands of ATMs? What does it cost a credit union with 10 branches? Tricky math.

    • The numbers are actually from a a financial consulting firm Oliver Wyman, who that banks would need to recoup, on average, between $15 and $20 a month from each depositor just to earn what they did in the past.

      • Banks don’t deserve previous profits like any other business. They have to work for it like any other individual or business. They lived off of unjustified debit card profits for far too long anyway.

        It is also not the consumer’s problem that banks have such high overhead with CEO pay, lavish bonuses, and stupid promotions that give rich people just for parking their money. Why don’t you improve your efficiency as a bank instead of trying to nickel and dime customers that can least afford to give it away?