ATM Fees Hit Record Highs in 2015

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ATM fees are reaching new heights in 2015 and have set a new record.

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According to a survey from Bankrate, the average ATM fee in the U.S. for using a machine not tied to a person’s bank is $4.52 for every withdrawal. The increase in fees is due to banks charging less fees and less people using ATMs, reports Fox Business Network.

Bank account holders that pull money from ATMs outside of their network are often hit with two fees. The first ATM fee is from the person’s bank and the second comes from the owners of the ATM. Many banks will waive fees for using ATMs not owned by them if accounts meet certain requirements, Fox Business Network notes.

“With ATM fees, plan ahead as to where and when you make the withdrawals so you stay inside the network,” Greg McBride, chief financial analyst at Bankrate, told USA Today. “If you are in a pinch for cash, use your debit card at point of sale to get cash back.”

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