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ATM off-us fees rise for 14th year; total fees drop slightly

October 12, 2018

The average surcharge assessed by a financial institution for an out-of-network ATM transaction has risen for the 14th consecutive year, from $2.97 to $3.02, and has increased 53 percent over the last decade, according to data from the 20th annual survey of ATM fees by Bankrate.com.

On the plus side, the fee charged by the account holder's own bank for using another institution's ATM has decreased from $1.72 to $1.66, and more banks are reducing this fee than are raising it.

Additionally, 32 percent of the banks surveyed offer free out-of-network withdrawals to their customers on at least one account, the highest percentage the survey has ever found.

In total, the average cost of an out-of-network ATM withdrawal is $4.68, down a penny from last year's record high. The total cost has risen 36 percent over the past decade, Bankrate.com said.

Overdraft fees are also down slightly to $33.23 from $33.38 last year. However, this is still the second highest on record, and despite the decline in the average fee, the number of fee increases outnumbered decreases in the survey. The most common fee remains $35 for the 10th year in a row.

Following are the five cities with the highest and lowest total ATM fees out of 25 markets surveyed by Bankrate.com:

The 20th annual Bankrate.com Checking Account and Fee Study polled 10 banks and thrifts in each of 25 large U.S. markets.