Out of Network ATM Fees to Watch Out For

Out of network ATM fees can be a real punch to the wallet. Some banks charge up to $4.50 per transaction, which can add up quickly.

If you're not careful, these fees can sneak up on you. For example, if you take out $20 from an out-of-network ATM three times a week, you'll be charged $4.50 each time.

The average cost of an out-of-network ATM fee is around $2.50 per transaction. This may not seem like a lot, but it can add up over time.

Many banks also charge a monthly maintenance fee, which can range from $5 to $25, in addition to the ATM fee.

Out-of-network ATM fees can be a real money-sucker, especially if you're not aware of the charges. Banks charge an average of $1.58 for using an out-of-network ATM.

You'll also face a surcharge from the ATM owner, which has risen to a record high of $3.19 in 2024. This means you'll be hit with two fees: one from your bank and one from the ATM owner.

The combined average cost for using an out-of-network ATM is now $4.77, a 4-cent increase from 2023. This is the highest amount since Bankrate started tracking fees in 1998.

Some cities have even higher out-of-network ATM fees, with Atlanta topping the list at $5.33. San Diego, Phoenix, Detroit, and Cleveland also have fees above $5.

Boston, on the other hand, has the lowest average out-of-network fee at $4.16.

ATM fees can be a real pain, but there are ways to avoid them. One simple strategy is to use ATMs within your bank's network, as Greg McBride, CFA, chief financial analyst for Bankrate, suggests: "Like with health insurance, when it comes to ATM fees it pays to stay in network." This can save you from paying two fees - one to the ATM owner and another to your own bank.

You can also get cash back when using your debit card at a supermarket or pharmacy, which is a much lower cost than the double whammy of out-of-network ATM fees. Additionally, mobile banking is a great way to make inquiries and certain transactions without paying an ATM fee.

Here are some banks that reimburse ATM fees:

It's worth noting that some banks offer accounts that don't charge overdraft or NSF fees, or offer overdraft protection, which can help you avoid these fees.

Banks frequently change their fees, and it's essential to stay informed about these changes.

Citibank recently announced a change to their out-of-network ATM fee, which will be waived for certain account holders. These include Citigold Account Package, Basic Banking Package (for account holders 62 years of age or older), Citibank Account Package (with a combined average monthly balance of $15,000 or greater), and Citibank Student Account Package.

Grandfathered accounts with a waiver for this fee will also be exempt from the change. However, if you're a frequent user of out-of-network ATMs, you might want to consider switching to another checking account or adjusting your financial habits.

Using ATMs within your bank's network can help you avoid ATM fees altogether. If you need to use an ATM frequently, choosing a big bank with a large network of ATMs might be a good option. Alternatively, you could opt for a bank that belongs to a large ATM network like Allpoint or MoneyPass.

You can also avoid ATM fees by choosing a bank that reimburses ATM fees. Some financial institutions offer accounts that reimburse ATM fees in full or in part.

Requesting cash when making debit card purchases is another way to get cash without paying ATM fees. Most retailers allow you to obtain cash back from your checking account when using your debit card at the cash register, and there's usually no fee for doing this.

Avoiding fees is a smart move, and it's easier than you think. One way to avoid ATM fees is to stay within your bank's ATM network. According to Example 5, there are over 212 ATMs for every 100,000 people in North America, so chances are, there's a network ATM nearby.

You can also use mobile banking services to avoid ATM fees. As Greg McBride, CFA, chief financial analyst for Bankrate, says in Example 3, "Like with health insurance, when it comes to ATM fees it pays to stay in network." Mobile banking allows you to make inquiries and certain transactions, such as depositing checks, transferring funds between accounts, and paying bills, without paying an ATM fee.

If you need to withdraw cash, consider going into a physical bank branch. Withdrawals at branches are always free, as mentioned in Example 2. This way, you won't have to worry about paying ATM fees.

Another option is to use a debit card transaction to get cash back from a retailer. Most stores will give you an option for cash back after you make a purchase, and there's usually no fee for doing this, as mentioned in Example 7.

Here are some banks that reimburse ATM fees, according to Example 4:

Remember, it's always a good idea to check your account balance frequently to avoid overdraft fees. You can set up low balance alerts through your banking app to help you stay on top of your finances, as mentioned in Example 4.

Lastly, consider switching to an online bank that offers a large ATM network or reimburses ATM fees. This way, you can avoid ATM fees altogether, as mentioned in Example 3 and Example 5.

Bank of America charges a $2.50 out-of-network withdrawal fee, which is waived for no accounts. Wells Fargo charges a $2.50 fee, but it's waived for Portfolio Checking accounts, the first transaction for Preferred Checking accounts, and the first 4 transactions when enrolled in Military Banking program.

Some banks offer lower international transaction fees. For example, U.S. Bank charges a 2% fee for international currency, while Connexus Credit Union charges up to a 1.5 percent transaction fee.

The average out-of-network ATM fee is $4.73 per transaction, according to Bankrate's 2023 checking account and ATM fee study. This is the sum of the average fee that a bank charges its customers who use an ATM outside of its network ($1.58) plus the average ATM surcharge from the ATM's owner ($3.15).

Here's a breakdown of the out-of-network ATM fees for some of the top U.S. banks:

Bank ATM fees can be a real headache, but understanding how they work can help you avoid unexpected charges. Most banks and credit unions have a network of ATMs that offer free access to your money.

Using an ATM outside of your bank's network can result in multiple fees, including the ATM operator fee, also known as the surcharge, which is charged by the ATM owner to noncustomers. This fee can be imposed by a different bank, a business unrelated to banking, or even an individual investor looking to earn passive income.

Your bank may also charge an out-of-network fee, which can be waived by some banks, or they may reimburse ATM fees charged by outside banks, usually up to a limit. If you're traveling outside the U.S., be aware of international transaction fees, which can range from 1 to 3 percent, depending on your bank's policy.

Some banks, like Connexus Credit Union, charge up to a 1.5 percent transaction fee, while others, like LendingClub, charge under 1 percent.

The top U.S. banks have varying out-of-network ATM fees, ranging from $2.50 to $3.50.

Bank of America charges a $2.50 out-of-network withdrawal fee, which is waived for customers with no accounts.

Wells Fargo charges a $2.50 fee, waived for Portfolio Checking accounts, Preferred Checking accounts, and Military Banking program members.

Chase charges a $2.50 fee, waived for Chase Premier Platinum Checking, Chase Premier Savings, and Chase Premier Plus Checking customers.

Citibank charges a $2.50 fee, waived for Citigold and Citi Priority members, or customers 62 and older with a Basic Banking account.

U.S. Bank charges a $2.50 fee, waived for Platinum Checking accounts and the first two transactions for Gold Checking customers.

Here is a list of the top U.S. banks and their out-of-network ATM fees:

TD Bank charges a $3 fee, waived for TD Relationship Checking accounts, TD Premier Checking, and TD Preferred Savings accounts.

Capital One does not charge an out-of-network ATM fee, but does charge a $2 foreign withdrawal fee.

If you're planning a trip to a city with a high average ATM fee, you might want to consider visiting Boston, Seattle, or Philadelphia, where you'll pay the lowest average combined fees, at $4.16, $4.34, and $4.42 respectively.

Atlanta takes the top spot for highest average ATM fees, with a whopping $5.33. San Diego and Phoenix are tied for second place, with an average fee of $5.22.

You can see the full list of cities and their average ATM fees below:

Monthly maintenance fees can be a significant hassle, but there are ways to avoid them. Nearly half of the checking accounts surveyed by Bankrate are free with no strings attached.

If you can't find a free checking account, look for one with a fee that's easy to avoid. Many non-interest checking accounts will waive the fee for customers who set up regular direct deposit into the account.

It's worth noting that keeping excess cash in a low-yielding checking account just to avoid paying a monthly fee isn't the best idea. McBride advises putting your excess cash into an online-only savings account earning a high yield instead.

Here are some options to consider: