2011 Checking Account Survey
7 ways checking accounts cost you more

Checking Account » 7 Ways Checking Accounts Cost You More

ATM fees on the rise
Slide 6 of 8
ATM fees on the rise

In this year's Checking Survey, ATM surcharges hit an all-time high for the seventh consecutive time. Last year, the average charge was $2.33. This year, it's $2.40. That's an increase of 7 cents, or about 3 percent.

"The ATM surcharge is almost universal, and it's been that way for years," says McBride. "So the fee increasing every year is a function of somebody planting their flag and moving their fee up to that next threshold."

The most common ATM fee in our survey was $3.

Tip: If you have a smartphone, such as an iPhone or a BlackBerry, try pulling up a banking application before you use another bank's ATM. Many bank smartphone apps can use your phone's GPS functionality to locate in-network ATMs near you. Walking or driving a few blocks may save you the fee charged by the other bank's ATM and the out-of-network fee your own bank will charge, easily amounting to $5 or more.





Show Bankrate's community sharing policy
          Connect with us

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.



Allison Ross

CFPB concerned about overdraft fees

The Consumer Financial Protection Bureau again has raised concerns about overdraft protections at banks, today releasing a report that says small debit card purchases lead to expensive overdraft fees. "Today’s report shows that consumers who opt in to overdraft coverage put themselves at serious risk when they use their debit card," CFPB Director Richard Cordray  ... Read more

Partner Center

Connect with us