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Paying big for your own money: Houston ATM fees rank among the very highest in America

Paying big for your own money: Houston ATM fees rank among highest

using an ATM with hand holding credit card
Houston's average ATM and overdraft fees are among the highest in the nation. Photo courtesy of Local Government Federal Credit Union

According to a new analysis, Houston has some of highest ATM and overdraft fees in the country. The Houston area averages $4.38 for ATM fees and $33.53 for overdrafts, which ranks as the fifth highest in the United States according to Bankrate.com.

Conducting a survey of the 10 largest banks and thrifts in the 25 largest U.S. markets, Bankrate.com found that the nation's ATM fees and overdraft fees have reached an all-time high. The ATM fee for each city combines the fees charged by the ATM operator with those charged by the bank of each consumer.

 At $4.70, Denver ranks highest in the U.S. for the average ATM fee, while Baltimore, at $3.59, ranks the lowest.  

The national average rate at which a consumer's financial institution will charge per transaction has risen 10 cents from last year's average rate of $2.50, and the national average of an entire transaction, which includes the ATM operator fee, is up by two percent, with the national average at $4.13. Average overdraft fees in the U.S. are at $32.20, up almost $1 from last year's average of $31.26.

At $4.70, Denver ranks highest in the U.S. for the average ATM fee, while Baltimore, at $3.59, ranks the lowest. As for overdraft fees, Milwaukee ranks highest with an average of $34.16, and San Francisco ranks lowest at $27.18.

Greg McBride, senior financial analyst from Bankrate.com, said in a statement that “the higher overdraft and ATM fees roughly correlate with the rate of inflation.”

Additionally, the Bankrate.com analysis shows that only 38 percent of banks currently offer free non-interest checking accounts, which is down 38 percent from just four years ago.