Believe it or not, the typical out-of-network ATM fee can now set you back more than that morning cup of joe.
ATM fees for out-of-network locations have hit a record average cost of $4.57 a pop, says a Bankrate.com survey.
That’s because you’re getting charged twice – once by your bank, and once by the financial institution controlling the ATM machine.
Those charges can add up. Stopping at the ATM for a quick $20 withdrawal can cost you almost 25% in fees, if you don’t plan ahead.
To save money, check your bank’s website for a list of in-network ATM machines, or switch to a bank that reimburses you for out of network fees.
Those savings can really add up!