Question of the Day
Are Banking, ATM, Checking Fees Unrealistically High Now?
The average cost of an out-of-network ATM transaction is $4.07. Should something be done?
Happy Friday, folks, time for another Midtown Patch Question of the Day. Fees on checking accounts hit an all-time high in 2012, reports the financial website Bankrate.com, with much of the increase coming in charges for use of out-of-network ATMs. According to the side, the average fee assessed by the owner of a foreign ATM climbed 4 percent this year to $2.50. Combined with the typical charge by a consumer's own bank for an out-of-network withdrawal — $1.57, up 11 percent — the average cost per transaction now stands at a whopping $4.07. And for the first time ever, all financial institutions surveyed by Bankrate.com reported charging non-customers for ATM transactions. Other checking account expenses — such as maintenance fees and non-…
Jeff Langer
10:52 am on Friday, September 28, 2012
Nope. We all have choices. I don't know the last time I paid an ATM fee. I get money at my bank and if my bank isn't available, I buy a pack of gum at the grocery store, use my debit card and get cash back. I don't go to a bar with no cash and use their ATM - I'm prepared. more ›