Average ATM fees hit a record high for the 14th consecutive year, according to a new study from Bankrate, but those charges are less burdensome in St. Louis and Kansas City than in many other big cities across the U.S.
The study revealed several bits of positive news for consumers: Average fees for overdrafts and monthly service fell across the U.S. So did average minimum balance requirements.
But checking account yields remained low, according to the study, and those ATM fees continue to rise.
The average fee to use an out-of-network ATM is $4.68, according to the study, up 36 percent from 2008.
However, St. Louis had the lowest average fees of any market surveyed, at $4.25. Kansas City’s average fee, $4.55, put it among the cheaper 40 percent of the 25 large cities surveyed.
Detroit had the highest average fees, at $5.28.
For the study, Bankrate, a provider of personal finance information, surveyed banks and thrifts in 25 large markets, reviewed debit card and ATM fee policies and gathered information on non-interest and interest-bearing checking accounts.