Analysis: Denver has nation’s highest ATM fees, second-highest overdraft fees
(Photo: MGN Online)
DENVER — Denver has the nation’s highest ATM fees and the second-highest overdraft fees, according to an analysis of 25 large markets.
Denver’s ATM fees ($4.70) and overdraft fees ($34.10) are up slightly from last year, when the city was also ranked near the top of the list, according to Bankrate.com.
Nationally, only 38 percent of banks offer free non-interest checking accounts to all customers (down from 76 percent in 2009).
The average ATM fee is at a record-high $4.13 and the average overdraft fee is a record-high $32.30. Those are up 2 percent and 3 percent, respectively, from last year.
“The higher overdraft and ATM fees roughly correlate with the rate of inflation,” said Greg McBride, Bankrate.com’s senior financial analyst. “And while free checking isn’t as common as it was just a few years ago, the decline slowed to a trickle this year. With a little bit of research, most consumers should be able to find a free checking account that meets their needs.”