---
title: Big Banks Made a Ton of Money Last Year From ATM and Overdraft Fees
description: JPMorgan Chase, Bank of America and Wells Fargo collected more than $6.4 billion in ATM and overdraft charges in 2016
authors:
  - name: Aric Jenkins
    url: https://money.com/author/aric-jenkins/
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published: '2017-02-23T12:46:38.000Z'
modified: '2024-04-17T05:17:28.000Z'
section: Banking
tags:
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canonical: https://money.com/banks-atm-overdraft-fees-2016/
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![Man using a ATM](https://img.money.com/2017/02/banks-atm-overdraft-fees.jpg)

ATM and overdraft fees cost Americans dearly in 2016.

The nation's three largest banks — JPMorgan Chase, Bank of America, and [Wells Fargo](https://money.com/wells-fargo-fires-executives-sales-scandal/) — collected more than $6.4 billion in such charges last year, [according to an analysis from CNN](http://money.cnn.com/2016/01/14/investing/atm-overdraft-fees/?iid=EL).

The total sum resulted in an average of more than $25 in fees for every American adult. And the cost isn't showing any signs of decline. [2015's CNN report](http://money.cnn.com/2016/01/14/investing/atm-overdraft-fees/?iid=EL) just topped $6 billion, which means ATM and overdraft fees have risen about $300 million in the span of a year.

For customers, finding an ATM that belongs to their bank can sometimes be inconvenient, leaving some users with little choice but to withdraw funds from an "out-of-network" machine. The average ATM fee is now $4.57, [according to a survey from Bankrate](http://www.bankrate.com/finance/checking/2016-checking-account-survey-1.aspx).

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