ATM withdrawal fees hit a record $4.72, on average, and faster hikes may be coming
The average surcharge that ATM operators charge non-customers to withdraw cash rose 2% over the past year to $3.09, the 15th straight year of increases, according to a July survey by Bankrate.com.
All told, the average total cost for an ATM withdrawal still hit a record $4.72, up 3.3% over the past three years and 33% the past decade, the Bankrate survey shows. The biggest portion of the tab is the ATM operator’s charge, which non-customers immediately see when they get their money. That surcharge is up 6.5% over the past three years and 39% the past decade.
The Federal Reserve kept its key interest rate near zero for years after the Great Recession ended in 2009 to spur more borrowing. ATM fees jumped sharply during that period, but the increases have moderated the past few years as the Fed raised rates in an improving economy, McBride says.Since July, however, the Fed has lowered rates twice to head off a potential recession and many economists expect two more cuts by early next year.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
How ATM Fees Grew To Record Highs—$4.72 Average Out-Of-Network Withdrawal CostIt’s now more expensive than ever to spend your own money.
Weiterlesen »
ATM bank fees hit a record high — and it's draining your cashGot a cash emergency? You should think twice before you run to the nearest ATM for a withdrawal. That's because it's now even more costly to take money from an ATM that's outside your bank's network, according to Bankrate.com.
Weiterlesen »
How ATM Fees Grew To Record Highs—$4.72 Average Out-Of-Network Withdrawal CostIt’s now more expensive than ever to spend your own money.
Weiterlesen »
ATM bank fees hit a record high — and it's draining your cashGot a cash emergency? You should think twice before you run to the nearest ATM for a withdrawal. That's because it's now even more costly to take money from an ATM that's outside your bank's network, according to Bankrate.com.
Weiterlesen »