ATM Charges Reach Record Highs
By: WROC-TV
Updated: September 24, 2012
ATM fees are rising to new levels as banks cut back on free checking accounts. Financial research firm Bankrate says ATM surcharges rose 4% hitting a record high of $2.50.
It's the eighth straight year these fees are up. The charge for using another bank's ATM also rose 11% to $1.57. Analysts say restrictions on overdraft charges and limits on swipe fees from debit cards are the reasons for the increases.
It's the eighth straight year these fees are up. The charge for using another bank's ATM also rose 11% to $1.57. Analysts say restrictions on overdraft charges and limits on swipe fees from debit cards are the reasons for the increases.
