ATM Fees, Are They Out of Control?

By , Posted on Oct 30, 2014
General
General

Is your bank taking your hard-earned money… with your help?

A recent survey by Bankrate.com stated that the average out-of-network ATM fee is $4.35 per transaction… that’s an increase of 5% since last year.

If you live in Arizona you might already know this. Phoenix came in with the highest average fee per transaction of $4.96.  On the low end was Ohio with Cincinnati’s average fee of $3.75.

ATM fees are not the only way your bank can get it’s hand in your pocket… monthly service fees, per check fees and overdraft fees are just a few n the ways banks can drain the money out of your account.

According to the Bankrate.com survey, overdraft fees are up for the 16th consecutive year with a national average of $32.74

There doesn’t seem to be a decline in fees anytime soon either.  Greg McBride, chief financial analyst at Bankrate.com, told The Associated Press that “”I expect fees to continue increasing in years to come, but at a modest pace consistent with what we saw this year, just as was the case prior to the onset of these regulations,”
The best thing you can do to make sure you keep as much of your hard-earned money as possible, and avoid giving it to your bank in the way of fees, is to be aware of the fees that your bank charges.

If your current bank seems to charge you every time you turn around, maybe it’s time to look for another bank!

If you are having trouble holding on to the money you earn, having problems with debt or would like to find out about becoming debt free, call Debthelper at 800-920-2262, or visit @ www.debthelper.com.

 

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