ATM fees for out-of-network withdrawals are on the rise, with Atlanta leading the nation at an average fee of $5.37.
A recent survey by Bankrate highlights the increasing cost of using ATMs outside of one’s banking network. As digital transactions become more common, fewer people are using ATMs, prompting banks to raise fees to maintain their networks.
“Obviously, it’s not great to see that Atlanta is number one in terms of highest ATM fees. But these are incredibly easy to avoid with a little bit of planning,” said Stephen Kates, a Bankrate analyst.
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Channel 2’s consumer advisor Clark Howard advises consumers to use ATMs that are part of their bank or credit union’s network to avoid fees.
“USAA Bank, one of the biggest banks in the country, and Charles Schwab don’t charge you for using any ATM—they absorb the fee for you," Howard said.
Kates suggests checking banking apps to find no-fee options or using a debit card to get cash back at stores as alternatives to paying ATM fees.
In addition to ATM fees, overdraft fees are also increasing, with the average fee in metro Atlanta reaching $29 last year, according to Bankrate.
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