Banks are charging file quantities for noncustomers getting money at ATMs, in accordance with a brand new survey launched this week by private finance web site Bankrate.

The typical out-of-network payment climbed to $4.77 this 12 months, a 4-cent enhance from 2023. It is the best common complete payment since Bankrate began monitoring charges in 1998. 

“Should you make an out-of-network ATM withdrawal, count on to pay, and pay greater than ever earlier than,” Bankrate chief monetary analyst Greg McBride mentioned in an announcement. “Charges have elevated once more and you may sometimes pay two charges — one to the ATM proprietor and one other to your personal financial institution.”

On common, your financial institution will cost $1.58 for utilizing an out-of-network ATM. The proprietor of the out-of-network ATM will cost, on common, a further $3.19, for a mixed common payment of $4.77.

Bankrate advises solely utilizing ATMs in your financial institution’s community for withdrawals to keep away from charges when getting money. Shoppers can even ask for money again when utilizing a debit card for a purchase order. Bankrate says that whereas there’s normally no payment for doing this, the utmost withdrawal limits are sometimes decrease than these imposed by ATMs.

The typical out-of-network ATM payment in some American cities can are available a lot increased than the payment in others. Relying on the place you reside, it’s possible you’ll be spending greater than $5 to entry money. The typical ATM payment is highest in Atlanta, the place individuals pays $5.33 to withdraw money at an out-of-network machine, in accordance with Bankrate’s survey. The typical withdrawal payment additionally topped $5 in San Diego, Phoenix, Detroit and Cleveland.

Boston has probably the most cheap withdrawal payment of the 25 metropolitan areas Bankrate surveyed, with a mean out-of-network payment of $4.16.

To make issues even worse, shoppers are additionally getting socked with increased overdraft charges, which climbed to a mean of $27.08 in 2024 after declining for 2 straight years, Bankrate discovered.

The Bankrate survey examined 10 banks and thrifts in 25 giant markets. 

ATM charges could also be on the rise, partly, as a result of fewer People are withdrawing money. People made 6 billion ATM money withdrawals in 2009, however that had dropped to five.8 billion by 2015 and three.7 billion in 2021, in accordance with the Federal Reserve. 

McBride in 2018 informed MoneyWatch that charges go up annually as a result of “nobody is nervous about alienating noncustomers.”