According to a recent survey conducted by Bankrate.com, in 2020 “the total cost of the average out-of-network ATM withdrawal is $4.64. That’s the lowest it’s been since 2016 and a decrease of 8 cents in the past year.”
Additionally, the survey found that “ATM surcharges, on average, cost non-customers $3.08, down a penny since last year’s record high. It’s only the second time in the survey’s history that the average ATM surcharge has decreased — with the last coming in 2004. But the average ATM surcharge is still at the second highest amount in the history of Bankrate’s Survey.”
![ATM Fees Source: 2020 Bankrate checking account and ATM fee study](https://puloonatms.com/wp-content/uploads/ATM-Fees.png)
Location, Location, Location
ATM fees tended to differ depending on the location. Those using out-of-network ATMs in Atlanta ($5.60), Tampa ($5.20), and Detroit ($5.18) saw much higher ATM fees than customers in Seattle ($4.19), Los Angeles ($4.17), and Chicago ($4.11).
Why the Reduction in Fees?
Bankrate found that many banks are offering temporary fee waivers because of the COVID-19 pandemic. This includes the surcharge that many banks require of non-customers who utilize their ATMs, now averaging $3.08 per use, and the fees that banks charge their own customers who use a non-bank ATM, now averaging $1.56 per use.
To find these results, Bankrate surveyed “a total of 10 banks and thrifts in each of 25 large U.S. markets; one interest and one non-interest account, as well as their associated ATM and debit card fee policies were surveyed from 245 institutions offering checking accounts; 239 interest and 235 non-interest accounts were surveyed between July 23 to Aug. 19, 2020.”