ATM Fees Are Rising

ATM fees are rising. Almost all banks charge customers who use machines owned by other banks. Now many of those banks are charging customers access fees as well. The result...The average cost of withdrawing money from an ATM anywhere other than your own bank is expected to rise to about $2 or more.

The average ATM user withdraws only $55. At an ATM with a $2 fee, the withdrawal cost is a very high 3.63%.

To save on extra fees, use a bank teller, or use your own bank's ATM machine. If you must regularly take out funds elsewhere, withdraw larger amounts less often. Fees are not determined by the amount the user withdraws.

Source: Bottom Line Personal, Feb. 1, 1996, p. 15.

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