ATM Fees Hit Record High

BOSTON (CBS) – ATM fees have hit a record high for the 11th year in a row.

If you withdraw money from a machine not affiliated with your bank, the average ATM fee is $4.69, according to Bankrate.com.

That’s up 55 percent in the last ten years.

atm ATM Fees Hit Record High

(Image credit: CBS This Morning)

There’s also another sign it can be expensive to have a checking account.

“The average overdraft fee hits a new high, it’s at $33.38,” said Bankrate.com’s Greg McBride.

McBride recommends getting text alerts from your bank when your account is running low to avoid a bouncing a check.

Bankrate says the Boston area has the second lowest average overdraft fee in the nation at $31.79.

The average out-of-network ATM fee here is $4.50, the ninth lowest in the country, according to Bankrate.

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