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Home>UPDATE: This common bank fee has soared 55% over the past decade

UPDATE: This common bank fee has soared 55% over the past decade

UPDATE: This common bank fee has soared 55% over the past decade

10/03/2017

By Quentin Fottrell, MarketWatch

There are still avoidable ways customers are getting nickel-and-dimed

Some of the most aggressive bank fees are also the most avoidable.

ATM fees hit a new high for the 11th consecutive year, according to a study of fees by personal-finance site Bankrate.com. The survey looked at 10 banks and thrifts (savings and loans associations) in each of 25 large U.S. markets: 1 interest account, 1 non-interest account and their associated ATM and debit-card fees were surveyed from 247 institutions offering checking accounts. (The American Bankers Association was not immediately available for comment.)

-- The average ATM surcharge rose by 2.4% to $2.97

-- The average ATM out-of-network fee spiked 3% to $1.72

-- The average bank-imposed ATM fee rose 2.6% to $4.69

-- Highest total ATM fees by metro was $5.91 (Pittsburgh)

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