The map is hardly the last word on the subject of bank fees. Ed Mierzwinski, who monitors consumer issues for U.S. PIRG, the federation of state public interest research groups, notes the study doesn't appear to look at whether banks offer free checking or not. He is also puzzled that Arkansas and Massachusetts, two very different states, both rank among the very best places for banking from a consumer point of view.
But the observation made by Arvest's Kincy, however tainted it may be by its association with Walmart, jibes with Mierzwinski's own research.
"Small banks tend to have lower fees than big banks," Mierzwinski says. He hastens to add, however, that one shouldn't look at this study or any other as definitive. Instead, one should look at several and draw one's own conclusions.
"I'm not moving to Arkansas because of this study," he says.Infographic provided by GOBankingRates.com. Follow @dan_freed >>>Read More:
Bank of America Exec Preaches Gospel of 'Too Big to Fail' Banking
Wells Fargo Looks to Benefit From Fannie Freddie and the Fed
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV