Bank ATM Fees: How Much Are They? (2024)

Bank ATM Fees: How Much Are They? (1)

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Even in the age of online banking, sometimes you still need cash — to pay back a friend or to have tip money for a night on the town — so you swing by an ATM. Depending on where you bank and what ATMs are nearby, you could pay much more than you need to when withdrawing money from your checking account. You could easily save money on fees if you plan ahead.

Quick Take: Bank ATM Fees

Small fees charged to your account can add up over time. Here are a few key takeaways about bank ATM fees:

  • Automated teller machines, or ATMs, are for accessing cash and conducting banking transactions for products and services that require cash.
  • If you are charged for using an ATM outside of your bank’s network, you can check with your bank or credit union to see if it will reimburse the ATM fees.
  • Last year, the average price of bank ATM fees reached an all-time high of $4.73 per transaction. This was calculated by adding the average surcharge of $3.15 by ATM owners to the average $1.58 you’re charged by your bank for using an out-of-network ATM.

What Are ATM Fees?

An ATM fee is a convenience charge that typically occurs when you use an ATM that’s out of your bank’s network. Although your bank will typically provide a free ATM network or free access to your account, many independent ATM operators or ATM owners will charge a small fee for using the machine.

Types of ATM Fees

Three different types of ATM fees exist. These fees can all be incurred in one transaction.

Out-of Network Fee

When you use an ATM that’s outside of your bank’s network, your bank may charge your account an out-of-network. Fees can range from $2 to $6 depending on your location. Keep in mind that there will probably be an additional charge from the ATM operator.

ATM Operator Fee

An ATM operator fee of $3-$7 occurs when you use a ATM outside of your bank’s network. ATM operator fees are required by federal law to appear on the ATM’s screen or be posted on paper.

Foreign Transaction Fee

When completing a ATM transaction in a foreign country, you’ll incur a international transaction fee, which could be a flat fee, a percentage of the total withdrawal or both. International ATM fees are between $2 to $6 and may include a 3% fee on top.

ATM Fees at Major Banks

Typically you will not be charged for using your own bank’s ATMs but if you are in a pinch it’s good to know how much pulling out your own cash could cost you.

BankNon-Network ATM Withdrawal FeeNon-Network International ATM Withdrawal*
Bank of America, Member FDIC$2.50$5.00
Capital One$2.00$2.00 plus 3%
Chase$3.00$5.00
Citi®$2.50N/A
First Horizon BankMachine operator sets feeMachine operator sets fee
Comerica Bank $2.50$3.00
Fifth Third Bank$3.00-$3.50$5.00
HSBC BankMachine operator sets feeMachine operator sets fee
KeyBank$3.00$5.00
PNC Bank$3.00$5.00
Regions Bank$3.00$5.00
Santander$2.00-$3.00$6.00
TD Bank$3.003%
Union Bank$3.00Machine operator sets fee
Wells Fargo$2.50$5.00
Huntington National Bank$3.003%
Frost BankMachine operator sets feeMachine operator sets fee
Associated Bank $3.503%

*Your bank may charge an additional fee if your ATM withdrawal is in a foreign currency or takes place in a foreign country. For example, many banks charge a 3% foreign transaction fee.

Foreign Transaction Fees

Fees for international ATM withdrawals can be much higher, and banks often tack on additional foreign transaction fees that make foreign ATM withdrawals even more expensive.

Keep in mind that if the withdrawal is in a currency other than U.S. dollars, you’ll be charged an additional fee of 3% of the withdrawal. Contact your bank ahead of time if you plan to travel abroad to find out about foreign transaction fees that you might have to pay.

Which Banks Don’t Charge ATM Fees?

The best way to avoid ATM fees is to plan ahead, including using the internet to search the term “cheapest ATM fees near me” before you visit an ATM and opening accounts at banks with no ATM fees. Always read the fine print and ask questions; banks that do not charge ATM fees might have minimum balance requirements or only reimburse a certain amount of fees each month. The best option is to find a bank with a network of fee-free ATMs that are easily accessible to you so that you can save yourself a lot of money.

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Bank ATM Fees: How Much Are They? (5)
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Bank ATM Fees: How Much Are They? (7)

How To Avoid ATM Fees

To minimize ATM fees, consider these strategies:

  • Use in-network ATMs: Whenever possible, use ATMs within your bank’s network to avoid out-of-network fees.
  • Check account terms: Review your account terms and benefits to see if your bank offers fee waivers or rebates for ATM transactions.
  • Use partner ATMs: Some banks have partnerships or alliances that allow customers to use partner ATMs without incurring additional fees.
  • Plan ahead: If traveling internationally, plan your cash needs to minimize the number of ATM withdrawals and associated fees.
  • Consider fee-free alternatives: Explore fee-free banking options or digital wallets that offer fee-free ATM access.

Final Take To GO

Understanding ATM fees and knowing the ways to avoid getting charged for them can help you save money and make the most of your banking experience. Know your bank’s fee policies and explore alternatives to reduce unnecessary costs associated with ATM transactions.

FAQ

Here are the answers to some of the most frequently asked questions regarding ATM fees.

  • What bank has the cheapest ATM fees?
    • Though fees will vary depending on your location Capital One ATM fees were one of the cheapest ATM fees of the banks surveyed for using non-network ATMs. Frost Bank and Comerica Bank also charge $3 per withdrawal for non-network ATMs in the United States.
  • How much does a bank charge for ATM transactions?
    • Your bank will charge you a fee when you use an out-of-network ATM generally ranging between $2 to $6. The ATM owner or operator will also charge you an additional fee separately from this that will vary by location.
  • How can I avoid ATM withdrawal fees?
    • Here are some tips to avoid ATM withdrawal fees:
      • If possible, use ATMs within your bank's network to avoid out-of-network fees.
      • If traveling internationally, plan your cash needs to minimize the number of ATM withdrawals and associated fees.
      • Consider fee-free banking options or digital wallets that offer fee-free ATM access.
      • Some banks offer you reimbursement for ATM fees so double check your checking account features as you may be able to get that money back.

Cynthia Measom and Michael Keenan contributed to the reporting for this article.

Information is accurate as of June 20, 2024.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.

Bank ATM Fees: How Much Are They? (2024)

FAQs

Bank ATM Fees: How Much Are They? ›

The average amount banks charge their customers for using an out-of-network ATM is $1.58, which reflects a 4 percent increase from $1.52 last year.

How much do ATM fees charge? ›

ATM fees at national banks
CompanyOut-of-network ATM fee
Chase$3 to $5
Citi$2.50
Huntington Bank$3.50
PenFed Credit Union$1.50
8 more rows
Jul 23, 2024

How to avoid ATM fees? ›

Ways to avoid ATM fees
  1. Get cash back. When you check out at a grocery store or other retailer, you'll typically have the option to get cash back with the purchase. ...
  2. Find in-network ATMs. ...
  3. Go digital with a payment app. ...
  4. Withdraw larger sums, less frequently. ...
  5. Open an account that reimburses fees.
Nov 2, 2023

How much charge does ATM take? ›

What are the Debit Card transaction fees for withdrawal at different Network?
Cash Withdrawal Fee (Per Txn.)SCT CardVisa Card
HBL ATM2520
Other SCT Network ATM, Nepal2530
Other Network ATM / NepalNA150
Visa Network ATM / India (PNB ATMs in case of SCT Card)200250
7 more rows

What is the cheapest way to withdraw money? ›

The cheapest way to get cash from an online bank account is by ATM if the bank belongs to an ATM network, such as Allpoint or MoneyPass.

What bank doesn't charge ATM fees? ›

Best Checking Accounts With No ATM Fees in 2024
  • Best Overall: Axos Bank.
  • Best for International ATMs: Needham Bank.
  • Best for Debit Card Users: LendingClub.
  • Best From a Credit Union: Alliant Credit Union.
  • Best for Low Fees From a Big Bank: Ally Bank.
  • Best for Overdrafts: Discover® Bank.

Why are ATM fees so high? ›

"Banks give free access to their account holders, but it's non-account holders who have to pay the costs associated with maintaining these networks. As there are fewer transactions, those costs go up across the network, and non-customers bear the brunt of those fees."

Do other banks charge ATM fees? ›

Yes, you can use an ATM owned by another bank to withdraw money — but you might be charged a fee depending on the machine.

How much does an ATM make per transaction? ›

Potential Income from Owning an ATM Machine

On average, ATM surcharge fees range from $2.50 to $3.00 per transaction. Assuming an average of 6 daily transactions, you could earn $15 to $18 daily, or $450 to $540 monthly, from a single ATM machine.

Do ATMs have hidden fees? ›

Most banks and credit unions have a network of ATMs that offer free access to your money. But if you go outside of the network, a fee may be imposed, including: ATM operator fee.

How to find an ATM without fees? ›

No-Fee ATM Networks. Another option for surcharge-free ATMs is to use one that is in your bank or credit union's card network. Much like finding your bank's ATM, you can use the ATM locator tool or call your bank for help in finding a nearby surcharge-free ATM within your financial institution's network.

Can I use another bank's ATM to withdraw money? ›

Withdrawing cash using an ATM

Automated teller machines (ATMs) link your debit card to your checking account, giving you full access to your funds. As most machines accept all cards, you can most likely use any ATM, no matter who you bank with.

What fee is charged for using the ATM? ›

A Bankrate study found that the average ATM fee hit an all-time high in 2023 at $4.73. This total is made up of an average $3.15 surcharge that's levied by the ATM owner plus an average of $1.58 that's charged by one's bank for using an out-of-network ATM.

Which bank charges the lowest ATM fees? ›

State Bank of India offers 5 free transactions (including financial and non-financial) at SBI ATMs for average monthly balances of up to Rs 25000 and above this amount, transaction is unlimited. Charges for financial transactions beyond the set limit is Rs 10 + GST at SBI ATMs and Rs 20 + GST at other bank ATMs.

How much ATM transactions are free? ›

Is there a limit to the number of times money can be withdrawn from an ATM every month? Usually, banks allow customers to make five withdrawals at no additional charges in a month.

How much does an ATM cost? ›

The average retail ATM machine costs around $3,000 but can range from $2,000 to $8,000 depending on the included features. Many different factors can effect this price such as the ATMs wifi compatibility, display type, banking services available, and if the machine is built-in or free-standing.

What is the ATM access fee? ›

Definition. A fee charged for an account holder to access the ATM system and conduct banking activities such as cash withdrawals. This fee is charged in addition to any individual account fees already paid by the account holder to their financial institution.

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