SACRAMENTO - For the eighth straight year, ATM surcharges have gone up, and it's because customers are getting smarter. More people are only using ATM's belonging to their own bank to avoid costly surcharges, and now the banks are trying to make up for the lost revenue.
An article by CNN Money quoted financial research firm bankrate.com which stated surcharges went up four percent to a record high of $2.50 per transaction. The fee that your bank charges to use another bank's ATM went up 11 percent to $1.57.
Many of banking customers pay an average of $4.07 per ATM transaction.
News10 viewers sounded off on Facebook about the fee increases, suggesting that credit unions are the best option, where such fees don't exist. Others said they withdraw cash when shopping for groceries, having the supermarket give cash back to avoid any ATM fees.