The report by the California Reinvestment Coalition says a basic bank account costs up to $144 per year and that does not include the extras like overdraft fees.
The report says using a debit card is more expensive for struggling families. Major banks now charge up to $12 per month, even for the most basic checking account. Customers can only avoid the fees if they keep a minimum balance or have direct deposit.
The report says struggling families can't afford the fees and wind up closing their bank accounts. The American Bankers Association says the fees make up for lost revenue caused by new regulations.
It says the average account costs just $3 per month.
