A new survey from Bankrate.com spotlights the five U.S. cities with the highest ATM transaction fees. And guess who won.
According to Bankrate.com, the average ATM fee is $2.40. But in Denver, according to info gleaned from the five largest banks and five largest thrifts in 25 of the country's largest markets during the first part of August, the typical charge is $2.75.Denver's followed on the list by San Diego ($2.70), Houston ($2.69), Seattle ($2.63) and New York ($2.60). As for the cities with the lowest charges, the winner is Cleveland ($2.06), with Minneapolis ($2.15), Tampa ($2.19), Chicago ($2.20) and Cincinnati ($2.22) not far behind.
Why are Denverites paying nearly 70 cents more than folks in Cleveland? Is it revenge for John Elway leading The Drive against the Browns all those years ago -- something that didn't happen in Hot Tub Time Machine, but definitely did in real life? The Denver Post put that question to a couple of bank executives and received the equivalent of shrugs in response.
With luck, coverage of this discrepancy will cause local banks to adjust their ATM charges downward. But don't withdraw any cash to bet on it.
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