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Exclusive   2007 Checking Study
  STATISTIC: Americans pay nearly $4.4 billion per year in ATM  
  fees. It's no wonder since ATM surcharges continue to climb.  

ATM surcharges still going up

ATM surcharges hit new high
The average surcharge -- the fee ATM owners charge nonaccount holders to use their automated teller machines -- established a new high for the fourth consecutive survey, jumping from $1.64 to $1.78 in the past year. The trend toward higher fees is unmistakable, with 43 institutions raising their surcharge in the past year versus just three that reduced the fee.

The $2 fee is now the most common, but the fee stretches higher, with 22 banks charging more than that. This is up from four banks one year ago, and includes Bank of America moving to the $3 threshold. The survey was conducted as of July 31, and at the time Bank of America had only instituted the higher surcharge in some of their markets. With the exception of Chicago, the $3 surcharge was instituted in the remaining markets at the end of August.

Average ATM surcharge
Create a news alert for "checking study" -- Posted: Sept. 26, 2007
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