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Colorado ATM Fees 6th Most Expensive In U.S.

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DENVER (CBS4)– Colorado is the sixth most expensive state in the nation when it comes to getting money from ATMs. The average fee across the state is $4.70.

That’s 18 cents higher than the national average. A local financial adviser recommends shopping around.

“If you’re really not happy about the fees check on some of the smaller banks, even some of the credit unions and you may find they’re more competitive in terms of the banking services you want to use,” said Denver Money Manager Robert Grey.

(credit: CBS)

(credit: CBS)

Overall, withdrawal fees have increased 21 percent in the past five years. Advisers say the higher costs may be to make up for low interest rates.

“I think one of the reasons Denver ranks so high is we are dominated by bigger banks,” said Grey.

Denver also ranks in the top five for highest average overdraft fees.


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