ATM Fees Are at a Record High, a New Survey Finds (cbsnews.com)
(Wednesday September 10, 2025 @05:30PM (msmash)
from the cost-of-convenience dept.)
- Reference: 0179143496
- News link: https://news.slashdot.org/story/25/09/10/206212/atm-fees-are-at-a-record-high-a-new-survey-finds
- Source link: https://www.cbsnews.com/news/atm-fees-record-high-2025-bankrate/
An anonymous reader shares a report:
> Getting cash from an ATM is growing increasingly expensive as fees reach record highs. Americans are now [1]paying an average of $4.86 for out-of-network ATM withdrawals , up 1.9% from $4.77 last year, according to a new survey from Bankrate.com. That's the highest on record, according to the personal finance website, which starting tracking ATM fees 27 years ago.
>
> "ATM fees are just one of those avenues that the bank can very freely continue to charge fees," Bankrate financial analyst Stephen Kates told CBS MoneyWatch. Those costs include charges from both ATM owners and banks. According to the survey, the average fee from cash machine providers is $3.22. Banks charge $1.64 on average, up 3.8% from 2024 -- the highest since 2018. As a result, Americans in certain metro areas could see average combined fees of more than $5.
[1] https://www.cbsnews.com/news/atm-fees-record-high-2025-bankrate/
> Getting cash from an ATM is growing increasingly expensive as fees reach record highs. Americans are now [1]paying an average of $4.86 for out-of-network ATM withdrawals , up 1.9% from $4.77 last year, according to a new survey from Bankrate.com. That's the highest on record, according to the personal finance website, which starting tracking ATM fees 27 years ago.
>
> "ATM fees are just one of those avenues that the bank can very freely continue to charge fees," Bankrate financial analyst Stephen Kates told CBS MoneyWatch. Those costs include charges from both ATM owners and banks. According to the survey, the average fee from cash machine providers is $3.22. Banks charge $1.64 on average, up 3.8% from 2024 -- the highest since 2018. As a result, Americans in certain metro areas could see average combined fees of more than $5.
[1] https://www.cbsnews.com/news/atm-fees-record-high-2025-bankrate/
Re: (Score:2, Insightful)
by Valgrus Thunderaxe ( 8769977 )
You might need cash in an emergency. Everyone should carry some cash and have some stored at home.
Re: (Score:1)
by Bradac_55 ( 729235 )
No what's sadistic is the guys setting on the side of the road selling shit that will only take cash cuz of the 2-3% the credit card companies charge.
There generally to stupid to raise there price by 4% to handle it over there phone.
Re: (Score:2)
by skam240 ( 789197 )
I'm sure any small business' you shop at would prefer you use cash. They get charged out the ass whenever you use your card.
Makes sense (Score:1)
Who's even using cash anymore? I recently bought a wheel from a junkyard to have a full size spare for my Chevy Bolt, and even they accepted electronic payment (via CashApp) if you didn't have old fashioned greenbacks.
This is what happens when companies try to maintain the same profit margins with a shrinking customer base. The folks still sticking with the old way of doing things get fleeced. It's the same deal with cable television.
Re: (Score:1)
Dispensaries can take credit card but they have to hand all of those records over to the FBI for there database in case they want to go after you for some reason so they tell there sellers to say they can't or it's to expensive.
The reason they have a debit machine in the sell room is to make it harder to track your purchase.
Best to get cash from some other machine or the bank and then go to get your weed.
Re: (Score:2)
I mostly see these third party ATMs in places like casinos, car washes, or tucked in with that wall of vending machines somewhere. For people for whom planning ahead and going to an actual bank ATM would be too inconvenient. That they have high fees should be a shock to nobody really.
I am. (Score:3)
> Who's even using cash anymore?
I use cash at the barber I go to as well as some other small business' I use so they don't lose the several percentage points their card service charges them. One Banh mi shop I go to cash is the only way to pay. I also use it at weed dispensaries as they typically pass on the crazy high fees their instate card service charges for using their service. I also always have cash on hand for tips and just odd scenarios where any form of electronic transfer isnt convenient. I also occasionally have to bail friend
Re: (Score:2)
A pair of businesses I like, a small ice cream place and a small coffee place on coastal california only accepted cash last I was at either. I think they were trying to avoid credit card fees. Admittedly it's been nigh a year since I've been to either, if they've not changed yet I wonder how long they'll last.