Overdraft fees rose to a record this year, even as many of the biggest U.S. banks take steps to wean themselves off the increasingly contentious revenue source.
The average cost to overdraw a checking account climbed to $33.58 from $33.47 last year, according to a Bankrate study released Wednesday. The figure increased for a third straight year, with Philadelphia having the highest average fee among major metropolitan areas, at $35.70, and Cincinnati at the bottom, at $30.42.
