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ATM Fees Hit Record Highs, Approaching $5

Automatic teller machines, commonly known as ATMs today, have been a huge boon to consumers, making it much quicker and easier to get access to the cash held in their bank accounts. That said, they have also been a major source of profits to the financial institutions that own them due to high ATM fees, and it is clear that is not going to change in the near future.

Bank Of America ATM

According to the latest data from, the average fee for an out-of-network ATM increased to $4.52 per transaction this year, while the average overdraft fee topped out at $33.07. These figures represent record highs ATM fees and overdraft fees for the 18 years that records have been...