Between the rise of e-commerce, credit/debit card use, and mobile payment platforms, the days of “running to the ATM” for enough cash to get through the day are gone for many people. That’s one of the reasons why, according to a new survey of banks, out-of-network ATM fees and overdraft charges are hitting new highs. [More]
atm fees
Average ATM Fees Hit Record High For 10th Straight Year
By 10.4.16
If you were hoping that ATM fees would suddenly drop, making life better for anyone who’s ever been forced to use an out-of-network machine, well, we’ve got some bad news: according to a new survey, average ATM fees were up yet again to $4.57 per transaction, marking the 10th straight year of increases. [More]
SCOTUS Will Hear Visa, MasterCard Appeal In ATM Fee Price-Fixing Case
By 6.28.16
Ten months after an appellate court ruled that a lawsuit accusing Visa, MasterCard, and a slew of major banks of conspiring to fix ATM fees could go forward, the United States Supreme Court said it will review an appeal from those companies seeking to throw the case out completely. [More]
The 3 Biggest Banks Extracted $6 Billion In ATM And Overdraft Fees From Us Last Year
By 1.14.16
Back in 1998, comedian Al Franken published a satirical novel where the fictional Al Franken ran a single-issue presidential campaign against ATM fees in 2000. A technical malfunction erased ATM deposits, making his single issue a crucial one, and Franken ended up in the White House. Today, he is a sitting U.S. senator, yet not involved in the 2016 presidential race where excessively high ATM fees are an actual issue being discussed. [More]
Average ATM Fees Hit Record High Of $4.52, Up 21% Over 5 Years
By 10.5.15
If you think you’re being bled dry more quickly by ATM fees, you’re probably not imagining things. A new survey shows that the cost of getting money from an out-of-network ATM has risen 21% over the last five years and the national average is now higher than $4.50 per transaction. [More]
Appeals Court Breathes New Life Into ATM Fee Price-Fixing Suit
By 8.4.15
More than two years after a federal court dismissed price-fixing lawsuits against Visa, MasterCard, Bank of America, JPMorgan Chase, and Wells Fargo, a federal appeals court has revived the cases that involve allegations that these banks and payment networks illegally and anticompetitively established fee levels for out-of-network ATM use. [More]
Traveling This Summer? Be Mindful Of Your Bank’s Out-Of-Network ATM Fees
By 6.20.13
We’ve heard an unconfirmed rumor that some people like to travel during the summer months, which is great; you need to get out more, enjoy life. But amid all that enjoying of life, don’t forget that you might not be able to access an in-network ATM for your bank account and could end up saddled with a bunch of no-fun fees. [More]
ATM Council Sues Visa And Mastercard For Forcing Them To Charge Consumers Set Fees
By 10.14.11
Visa and Mastercard have been accused of price fixing in a lawsuit filed Wednesday by the the National ATM Council. The suit alleges that nonbank ATM operators could charge customers lower ATM fees when they use other, cheaper payment networks, but are prevented from this by the set access fees Visa and MasterCard charge. [More]
The 5 Best & Worst U.S. Cities For ATM Fees
By 9.26.11
Though you won’t find any part of the country where residents don’t gripe and grouse about ATM fees, the results of a new survey show exactly which cities have the most (and least) to complain about. [More]
Chase Ends $4 And $5 ATM Fee Tests… For Now
By 5.3.11
After nearly two months, Chase has finally stopped charging exorbitant ATM fees to non-customers in Illinois and Texas. But that doesn’t mean the fees won’t be back soon. [More]
Chase Tests Out $5 ATM Fees
By 3.17.11
Banks are continuing to amp up the threat of making consumers pay for the price of increased regulation. Chase is testing out charging non-customers in Illinois $5 for withdrawal fees. In Texas, they’re trying a $4 charge on for size. Consumer advocates say its a scare tactic meant to muddy up Congressional waters, but banking experts disagree. “I think customers have taken for granted the cost of banks’ infrastructure,” says Margaret Kane, president and CEO of Kane Bank Services told ABC News. “ATMs are very expensive to install and maintain.” [More]
Is A Cap On ATM Fees Definitely A Good Thing?
By 5.15.10
A cap on ATM fees topping out at 50 cents, as proposed by some in Congress, sounds like a no-brainer, an automatically awesome thing that anyone who has ever groaned at a $3 fee would seem to applaud. But there could be disadvantages too. [More]
Citibank Promises To Credit ATM Fees, But Will Try To Get Out Of It Unless You Badger Them
By 4.25.08
Tim was pretty sure he met all the conditions of Citibank’s offer to refund ATM fees—he opened his account online and he doesn’t live near a Citi Financial center. When he wasn’t credited, he contacted them to ask why, and was told he had to meet the conditions he’s already met. He had to contact them four times to finally get the $2.00 fee credited as per their advertising. You might be asking yourself, “All that trouble for two dollars?” Well, that’s why he ends his email with this: “Can someone point me in the direction of a better bank that actually provides ‘reimbursement of the fees other banks may charge you for using their ATMs’ without hassle?”
