Philly Has Highest Overdraft Fees in US, Survey Finds

This Monday, July 18, 2016, photo shows printouts from a Bank of America ATM, in Woburn, Mass. Bank fees are bothersome, but they are often avoidable. ATM fees, overdraft fees and monthly account maintenance fees are the ones most commonly faced by consumers, according to experts. Elise Amendola/AP

Overdrawing on your checking account is never a good thing, but for people who live in the Philadelphia-area, it can be especially costly.

A new survey from Bankrate.com found banks in the Philadelphia metropolitan area charge the highest average overdraft fees in the United States at $35.30.

In the U.S. overall, the average overdraft fee hit a new high this year at $33.38, bouncing back up from a one-year drop in 2016. The most common overdraft fee is $35. 

Bankrate.com looked at fees charged by 10 banks in each of the 25 largest metropolitan areas to compile the survey.

Out-of-network ATM fees have also risen to new heights. For the 11th year in a row, these ATM fees hit a record increasing to an average of $4.69, Bankrate.com found.

Bankrate.com calculated the fee total by combining two charges consumers are typically charged: the surcharge by the ATM they're using and the fee charged by their bank for using an out-of-network ATM. Both of these surcharges went up this year.

Philadelphia ranks 10th in out-of-network ATM fees in the Bankrate.com survey. Another Pennsylvania city, Pittsburgh, took the top perch for these fees.

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"When it comes to ATM and overdraft fees, a little advance planning can go a long way," Bankrate.com chief financial analyst Greg McBride said. "Knowing where you can make free ATM withdrawals and monitoring your available balance to avoid overdrafts are as close as your smartphone."

On overdraft fees specifically, Bankrate.com suggests turning off overdraft protection to ensure your debit card is simply declined when there is not enough money available for a purchase.

Here’s a list of where top cities rank by the highest and lowest fees:

Highest Average Overdraft Fee by Metro

1. Philadelphia$35.30
2. Baltimore — $35.25
3. Miami — $34.68
4. New York — $34.63
5. San Diego — $34.22

Lowest Average Overdraft Fee by Metro

21. Seattle — $32.20
22. St. Louis — $31.85
23. Detroit — $31.80
24. Boston — $31.79

25. San Francisco — $31.44

Highest Average ATM Fee by Metro

1. Pittsburgh — $5.19 2. New York — $5.14 3. Washington, D.C. — $5.11 (tie) 3. Cleveland — $5.11 (tie) 5. Atlanta — $5.05

Lowest Average ATM Fee by Metro

21. Cincinnati — $4.30 22. Seattle — $4.29 23. San Francisco — $4.23 24. Milwaukee — $4.19 25. Dallas — $4.07