For the first time in 15 years, banks aren't charging you more to access your own money, according to anLike clockwork, out-of-network ATM fees hit record highs each year since 2004, the personal finance site found. But this year, the average cost actually dipped slightly compared to 2019, falling to $4.64 from $4.72. That's the lowest level seen since 2016.
Bankrate analyzed fees on interest and non-interest bearing accounts, as well as debit and ATM fees at 10 banks and thrifts in the 25 largest U.S. metro areas this summer. "One other option is getting cash back at the point of sale when using a debit card," McBride says. "Banks don't charge and very few merchants do either, amounting to a free withdrawal."However, banks did increase other types of fees. The average non-sufficient funds fee hit a new record of $33.47 this year, up from $33.36 in 2019 and $23.74 a decade ago.
Luckily, there was a "notable" increase in free accounts, per Bankrate. Almost half — 47% — of non-interest accounts are free, an increase of five percentage points from last year.
MakeIt Sure they did. My son needed $50 to pay for his haircut. His stylist only accepts cash. He went to an ATM to get $50 and the machine has a $40 limit, so he had to get $40 with a $3.50 fee and then another $20 with the same $3.50 fee. People are getting screwed by ATM fees.
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MakeIt People still use ATMs?
MakeIt nice ass
MakeIt I am fed up with banks fleecing their customers. I made a firm decision to avoid big banks with their fee driven models. I encourage others to do the same.
MakeIt Banks n cash are becoming obsolete duh!
MakeIt Trump should release his Chinese tax return David Corn MSNBC
MakeIt If you're bank is still charging atm fees, you seriously need to get a new bank. Its 2020 people, atm fees are a thing of the past to a true bank. Nickel and dime fees are so 1990s. Plenty of outstanding banks out there that don't charge atm fees.
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MakeIt And some cash machines are starting to charge for taking your own money out. The Government should put a stop to this before it gets out of control again?
MakeIt Cause we already tight on money 😉
MakeIt Because bankers have already robbed the working class blind? Just spitballing here...
MakeIt Nice ass in the photo. Thank you, CNBC.
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