ATM fees are on the rise. Today, the majority of banks are charging customers who use machines at banks other than their own. More over, many of those banks charge customers additional access fees. This will soon result in an outstanding $2 or more for an ATM withdrawal from an outside bank. The average ATM user withdraws $55. At an ATM with a $2 fee, the withdrawal cost is a very high 3.63%.
To avoid these costs, use your own banks ATM machine. If this isn’t possible most of the time, take out larger amounts, from outside ATM's, less often.
Source: ATM Fees are Rising. Consumer Economics Update. University of Missouri, Lincoln University Outreach and Extension.
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