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NextGen Magazine

 
 

ATM Fees Have Grown by 53 Percent in Past Decade

By:
Chris Gaetano
Published Date:
Oct 10, 2018
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It's not just you: using an ATM is, indeed, getting more expense, according to MarketWatch. The average ATM fee is now $3.02, versus $2.97 last year. This is part of an overall trend that has seen fees rise by 53 percent over the course of the last 10 years. When combining fees both from the customers' own bank and the bank of an out-of-network ATM, customers could pay as much as $4.68 to get cash. 

However all this might be moot within a few years. Studies have shown that while cash is still widely used, other payment methods have been steadily gaining ground. Another study found that 47 percent of people prefer digital payments to cash, and that only half of people carry cash at all. The number of people using digital payment systems, particularly mobile systems, is on the rise, as a poll found that 64 percent had used such a service in the past month.