Do you get charged for using other banks ATMs?

Do You Get Charged for Using Other Banks’ ATMs?

When you need to access cash or check your account balance, using an ATM is a convenient option. However, if you use an ATM that is not part of your bank’s network, you may be charged a fee.

ATM fees

ATM fees can vary depending on the bank and the type of transaction. Some common fees include:

• Operator fees: These fees, also known as surcharges, are imposed by the ATM owner for non-customer usage. The amount of the fee can vary, but it is typically around $2-$5.
• Transaction fees: These fees are charged by your bank for transactions such as withdrawals, deposits, and balance inquiries. The amount of the fee can vary depending on the type of transaction and the bank’s policy.

How to avoid ATM fees

The best way to avoid ATM fees is to use ATMs that are part of your bank’s network. You can usually find a list of your bank’s ATMs on the bank’s website or mobile app.

If you need to use an out-of-network ATM, you can try the following:

• Look for ATMs that offer surcharge-free withdrawals: Some ATMs, such as those at convenience stores and gas stations, offer surcharge-free withdrawals.
• Use your bank’s mobile app: Many banks offer mobile apps that allow you to withdraw cash from ATMs without a card. This can help you avoid operator fees.
• Make fewer withdrawals: If you can, try to withdraw cash less often. This will help you reduce the number of fees you pay.

Bottom line

ATM fees can be a nuisance, but there are ways to avoid them. By sticking to your bank’s network, using surcharge-free ATMs, and making fewer withdrawals, you can save money on ATM fees.