New Yorkers pay the second highest ATM fees in the country

  • New Yorkers pay the second highest ATM fees in the country

New Yorkers pay the second highest ATM fees in the country

Overdraft fees average $33.38, a 1 percent increase from a year ago, Bankrate.com reported.

Sometimes things are less expensive in the Chicago area.

In the Chicago area, out-of-network fees average $4.44 and overdraft fees average $32.60.

Bankrate.com looked at fees charged by 10 banks in each of the 25 largest metropolitan areas to compile the survey.

According to the latest Bankrate.com checking study released today, ATM fees have hit a record high for the eleventh year in a row.

The average ATM surcharge rose to $2.97, from $2.90 last year, a 13-year high.

The site surveyed 10 banks and savings and loans associations in each of 25 large USA markets from July to August 2017 and found that bank fees are up 2.6% from the previous year.

But thankfully, you can avoid most fees by planning ahead.

Nationally, ATM and overdraft fees have each hit record highs.

The average overdraft fee is $33.38, up slightly after a small dip in 2016, and the average out-of-network ATM fee is $4.69, up 2.6 percent from past year. Another Pennsylvania city, Pittsburgh, took the top perch for these fees.

"It keeps getting easier to avoid the fees, and people are transitioning away from cash", Bankrate chief financial analyst Greg McBride told Bloomberg.

Cities whose fees top over $5 include Pittsburgh ($5.19), NY ($5.14), Washington, D.C. ($5.11), Cleveland ($5.11) and Atlanta ($5.05).

On overdraft fees specifically, Bankrate.com suggests turning off overdraft protection to ensure your debit card is simply declined when there is not enough money available for a purchase. Cleveland - $5.11 (tie) 5.