Bank Account Numbers

[mickeyd]

Numbers is funny things as far as I am concerned.

According to Justin Pritchard the median amount in US bank accounts is $4500.

What is your guess as to the Average bank account balance in the USA?


This is the answer.
https://www.thebalance.com/what-is-t...09170&utm_term=

[ChiliPepr]

I would expect it to be higher, maybe $10 or $11k? But, I would not be surprised if it was $50k.

[LOL!]

I think people are confused by what is a "bank account." Does it include savings account? Checking account only? Other accounts?

I see the definition is "measures holdings in checking accounts, savings accounts, money market accounts, and prepaid debit cards."

My checking account has $300 in it and I am average. So I think the average balance is around $300.

I don't have a savings account nor a money market account nor prepaid debit cards.

[Fedup]

Interesting, we do fit the list. I’m only count checking account.

[W2R]

I "cheated" and read the article first, so I didn't vote. But if I had voted, I would have voted for the correct answer, honest!

[gauss]

Ah - you got me -- I read it backwards (median vs average).

[kcowan]

We always insisted on our kids having their own bank accounts to learn about saving. So the average number of accounts was 4. When we became empty nesters, the average grew, but online banking enables the average to be lower with JIT deposits to cover expenditures.