Transcript for Average cost of withdrawing cash from out-of-network ATM nears $5
Next tonight here, your money. Atm fees hitting a record high. The cost at some atms nearly $5 and ABC's chief business correspondent Rebecca Jarvis, out to save your money. Reporter: Tonight, those annoying atm fees keep climbing, hitting that record high. The average cost for withdrawing cash from an out of network machine now $4.72, up 33% over the last decade. Customers not only charged by the atm operator but also in many cases, their own bank. So, what's driving the fee hike? Fewer Americans are using cash and, in turn, atms. Thus increasing the cost banks charge you. But you can avoid some of those use only your bank's atms and request cashback when paying with debit. And of course you can also go cashless, but if you are using credit, it's important to pay off that balance every month, otherwise your interest payments will likely be higher than those atm fees, David. Use your bank so you don't get charged.
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