Twin Cities’ ATM, Overdraft Fees Among Lowest in U.S.

An industry survey found that the average ATM fee in the Twin Cities is the second lowest in the country and that the average overdraft fee is the fourth lowest.

The Twin Cities area has some of the lowest ATM and insufficient funds fees of the nation's largest metro areas, according to Bankrate, Inc., a North Palm Beach, Florida-based financial information aggregator.

Bankrate's 2011 Checking Account Survey found that ATM surcharges in the Twin Cities average $2.15-the second lowest in the country behind Cleveland at $2.06.

Denver is the priciest when it comes to ATM fees with an average of $2.75. The national average is $2.40, up 7 cents from a year ago, according to the Star Tribune.

For account overdraft penalties, Minneapolis-St. Paul tied with Los Angeles for fourth lowest at $28.89 on average.

San Francisco has the lowest average for overdraft fees at $27.59, while Denver tops again at $33.50. Bankrate found the national average for overdraft penalties to be $30.83.

The study also reported that only 45 percent of non-interest checking accounts are now free, down from the peak of 76 percent two years ago. However, banks reportedly are still offering free checking if customers meet conditions such as signing up for direct deposit.

Bankrate surveyed 10 of the largest banks and thrifts in 25 of the nation's biggest markets for the study. The survey-conducted in August-asked those institutions about the terms on one generic non-interest account and one interest-bearing account for the general consumer.