Got 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.
This fee includes the cost banks charge non-customers for using their ATMs — which is now an average of $3.09.
"The main point is that these fees keep going up, but they're avoidable," said Greg McBride, chief financial analyst at Bankrate.com. "It's just like health insurance: If you go outside of the network, it's going to cost you."Cities with the highest fees Large banks don't face any pressure to compete on these fees. Their market share is so large, they have no real incentive to reduce their costs."In areas where the market share isn't as concentrated, there's a greater disparity in fees, which can serve to bring down the overall average," said McBride.It's frustrating to pay a fee to use your own money. However, there are a few ways to avoid those costs.Ask about the different checking accounts available at your bank.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia's central bank cuts cash rate to record low 0.75%Australia's central bank cut its cash rate a quarter point to a record low ...
Read more »
Grammys 2020: Taylor Swift and Ariana Grande Enter Different Hits for Record, Song of the YearGrammys 2020: Taylor Swift (taylorswift13) and Ariana Grande (ArianaGrande) enter different hits for record, song of the year Grammys
Read more »
17 Fun Facts About 'Drive Me Crazy'It's hard to believe this beloved '90s film hit theaters 20 years ago.
Read more »
Post Malone Was Flashed by an Audience Member & Now It's a MemeAnother meme has hit the Internet and this time, it's thanks to Post Malone.
Read more »
After months of contemplation, I finally upgraded to the Chase Sapphire Reserve with a 10-minute phone callBy calling the number on the back of my Chase Sapphire Preferred card, I was able to speak with a customer service agent who upgraded me in minutes.
Read more »