ABA says U.S. consumers are paying fewer fees for ATMs, overdrafts

ABA says U.S. consumers are paying fewer fees for ATMs, overdrafts
Tags: Associations / Conferences, Bank / Credit Union, North America, Transaction Processing, Trends / Statistics
October 7, 2009

Despite the barrage of media reports claiming consumers are more susceptible to higher overdraft and ATM fees than ever before, the American Bankers Association says most consumers are actually paying fewer fees.

The Houston Business Journal reports that a recent ABA survey found that fewer U.S. consumers are paying regular monthly fees — a move that's been fueled, in part, by growing competition among banks.

ABA says 56 percent of the 1,000 bank customers surveyed pay no monthly or ATM-access fees, up from 52 percent in 2008:

Of those questioned in the survey, 14 percent said they paid $3 or less a month; 6 percent paid between $4 and $6; 3 percent paid between $7 and $9 and 13 percent reported they paid $10 or more a month.