On common, it now will value you $4.64 to stroll as much as an out-of-network ATM and withdraw cash, in accordance with Bankrate’s newest annual survey of ATM charges.
That is down 8 cents from 2019 and the bottom it’s been since 2016. But it’s nonetheless $4.64 you didn’t should pay.
You can all the time keep away from ATM charges by paying with a bank card or asking for money on the register when shopping for groceries with a debit card, for instance. But nowadays, there’s a greater approach: Switch banks.
Multiple establishments like these listed beneath will waive or refund clients for out-of-network ATM charges.
Understanding ATM charges
To discover the perfect ATM-fee-free financial institution for you, it helps to know which sorts of ATM charges you’re making an attempt to keep away from.
There are two primary sorts of charges that you just would possibly incur through the use of an out-of-network ATM:
- A price charged by your individual financial institution
- A price charged by the establishment that owns the ATM
Some banks waive their very own price however don’t refund clients for third-party charges. So, you could thoughts the superb print to discover a financial institution that additionally refunds ATM charges charged by different establishments.
Banks that waive or refund ATM charges
The following banks provide at the least one checking account that doesn’t cost clients for utilizing out-of-network ATMs and can reimburse clients for some or all ATM charges charged by the house owners of out-of-network ATMs:
- Ally Bank (on-line financial institution)
- Aspiration (on-line financial institution)
- Axos Bank (on-line financial institution)
- Charles Schwab Bank (on-line financial institution)
- First Republic Bank (brick-and-mortar chain with places in some states)
- Century Bank (brick-and-mortar chain based mostly in Massachusetts)
Just observe that these are examples, not an exhaustive checklist. So, earlier than you turn to an ATM-fee-free financial institution, perform a little homework to search out out what different choices are on the market.
You also needs to look into different account options which are essential to you, not simply ATM charges. For instance, in order for you a checking account that not solely is ATM-fee-free but in addition pays curiosity, use a free on-line useful resource like Money Talks News’ account search tool to search out it.
Disclosure: The data you learn right here is all the time goal. However, we generally obtain compensation if you click on hyperlinks inside our tales.