ATM Fees at New Record High

ATM Fees at New Record High

ATM fees have reached a new record high, yet overdraft fees are down, according to The average out-of-network ATM fee is now $4.57. The average overdraft fee is $33.07, breaking a streak of 17 consecutive years of new highs.

Free checking accounts increased for the first time since 2009, with 38 percent of non-interest accounts not carrying any monthly fees or balance requirements.

Highest Average ATM Fees*

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1.         Phoenix                       $5.07

2.         Atlanta                         $5.05            

3.         Cleveland                     $4.98

4.         Miami                           $4.94

5.         Denver                         $4.88



Lowest Average ATM Fees*

25.       San Francisco              $3.90

24.       Cincinnati                     $3.92

23.       Dallas                          $4.22

22.       Los Angeles                 $4.28

21.       Boston                         $4.33 (tie)

21.       Philadelphia                  $4.33 (tie)

Highest Average Overdraft Fees

1.         Philadelphia                  $35.20

2.         Baltimore                      $34.80

3.         Milwaukee                    $34.79

4.         New York                      $34.63

5.         Pittsburgh (tie)               $34.05

5.         Phoenix (tie)                  $34.05

Lowest Average Overdraft Fees

25.       San Francisco               $30.35

24.       Detroit                           $30.47

23.       Seattle                           $31.20

22.       Cincinnati                       $31.22

21.       Chicago                          $31.70

*Reflects both ATM fees combined (those charged by the ATM operator and those charged by the consumer’s own financial institution)


atm-fees2 atm-fees-2Non-Interest Checking Accounts

The number of free non-interest checking accounts increased for the first time since 2009, with 38 percent of non-interest accounts not carrying any monthly fees or balance requirements. Non-interest checking accounts saw declines in the average opening balance ($169), monthly service fee ($5.78), and balance required to avoid the fee ($670). The last time all three declined was 2008.

Interest Checking Accounts

The percentage of free interest checking accounts increased, with 5.5 percent of the accounts carrying no monthly fees regardless of balance or activity.  Although the average monthly service fee on interest checking accounts was down – slipping half a percent to $15.17, the balance required to avoid fees on interest checking accounts soared over 10 percent to a new high of $7,037.


A total of 10 banks and thrifts in each of 25 large U.S. markets; 1 interest and 1 non-interest account, as well as their associated ATM and debit card fee policies were surveyed from 245 institutions offering checking accounts; 236 interest and 236 non-interest accounts were surveyed between July 14 – August 10, 2016.

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