All bank fees are frustrating but there are a few that top the list. TD Bank recently conducted a survey of 3,000 checking account customers at various banks throughout the country.
They found that non-bank ATM fees were ranked most frustrating by 38% of respondents. That’s the fee you get when you withdraw money at an ATM machine outside of your bank’s network.
There are over 100 different Local and National Banks in the Chicago area. When it comes to non-bank ATM fees we found larger banks are much more likely to charge their customers a fee compared to smaller institutions.
Banks That Charge ATM fees in Chicago (%)
- 88% Banks with assets > 1 Billion.
- 48% Banks with assets < 1 Billion.
The average non-bank ATM fee for Chicago area banks was $1.24.
It’s pretty clear to see that when it comes to banking that bigger is not always better for ATM fees! This is another good reason to know what your bank charges for its services before you open a new account. Always ask your banker to see a fee schedule before opening a new account. It will show you a breakdown of the cost for each service provided by the bank.
Also read Cities With the Highest ATM Fees @ bankrate.com