Paying Money To Touch Your Money
Wait! Five dollars just to withdraw my own money?
That is where we are headed when ATM fees jump to a new record high. If you hit up an out of network ATM, expect to fork over an extra $4.69 per transaction. This cost is up 2.6% from the year before. An ATM fee is a fee for each withdrawal, transfer or balance inquiry performed at a bank that you don’t have an account with.
Some cities are worse than others. After surveying 10 banks in 25 big markets across the country, Pittsburgh banks had the highest average ATM fee – $5.19! New York came in second place with an average ATM fee of $5.14. Washington DC and Cleveland had a tie for third place with their ATM fees being $5.11. Additionally, the average overdraft fee went up considerably to $33.38. An overdraft fee is when your bank account dips below $0. Be sure to monitor how much is in your bank account in order to avoid this hefty penalty.
Some tips for avoiding extra fees are using your phone to find your bank in your current area, finding a bank that does not charge extra fees, or preparing ahead of time by withdrawing cash from your local bank that you belong to. Finally, never withdraw money from an ATM that you do not belong to – that is just common cents!
-
The Rochester Regional Joint Board of Workers United filed a formal complaint against Tesla. Earlier this week, a group...
-
Uber is making a comeback from pandemic-era losses. This week, prominent ridesharing company Uber reported their earnings for the...
-
A strong Q4 report and new investments have GM on the right track. This morning, the largest automotive company...
-
The deal is rumored to amount to around $10 billion. This morning, Microsoft announced the latest development in its...
-
Cook’s target pay package will be dropped to $49 million. Tech giant Apple announced today that its CEO, Tim...
-
Even Amazon isn’t immune to the worsening economy. As the global economy remains in the grips of inflation and...
-
Economic woes are affecting the highest echelons of wealth. According to recent statistics released by Forbes, the world’s wealthiest...
-
The bank was fined for “widespread mismanagement” and “illegal activity,” according to the CFPB. Today, financial regulators from the...
-
Store employees are worried layoffs may follow a merger. Recently, two of the largest grocery supermarket chains in the...
-
Despite ongoing concerns, the US job market is moving in the right direction. The United States economy is still...
-
American Airlines will buy 20 supersonic planes from Boom. Recently, commercial air carrier American Airlines and supersonic aircraft manufacturer...
-
Shareholders have accused Musk of enriching himself to the company’s detriment. In the midst of his ongoing revamp of...