Payments

ATM fees hit high of $4.73

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August 30, 2023

The average fee for out-of-network ATMs reached an all time high this year of $4.73, surpassing the previous high of $4.72, according to a report by Bankrate.

"ATM fees are biting harder than ever as the cost of out-of-network withdrawals hits a new record high," Greg McBride, chief financial analyst, Bankrate, said in the report. "But with less need for cash and expansive ATM networks that make it easier than ever to stay within network, the fees are easily avoidable and need not be a frequent drain on your bank account."

Other bank fees are dropping, however, such as overdraft fees have fallen by 11% to $26.61.