ATM Fees Overview
Argentina charges the highest ATM fee of 16.04%. Atlanta had the highest fees in the US at $5.60. Capital One ATM fees were the cheapest at $2. Wells Fargo has the most ATM branches in the US. Private ATMs in Germany charge high fees unlike banks. The Philippines charges the highest ATM fees in Asia at 2.81%. TD Bank has the most expensive monthly fees at $9.60 while Capital One has no monthly fees. General ATM cash withdrawal limits range from $300 to $5,000. Axos Bank offers the best free domestic ATM access.
Factors Affecting ATM Fees
Most ATMs charge between $1.50-$3 per transaction, but some operators exceed $10. ATM owners want to generate a profit, but won’t price themselves too high, as that would scare away customers.
Two types of fees exist: the surcharge fee imposed by the ATM owner and the foreign fee charged by the card issuer for conducting a transaction outside their network. The safest option is to always use a mainstream, bank-branded ATM.
National banks tend to charge fees for using out-of-network ATMs but may waive them on certain checking accounts. Brick-and-mortar banks charge non-customers $1.50 to $3.50 at their ATMs.
Casinos in Las Vegas are notorious for setting high fees on ATM cash withdrawals.
Strategies to Reduce ATM Fees
Strategies to reduce ATM fees include opening a free checking account without fees, getting cash back when using your debit card at a store, going into a physical bank branch instead, and mobile banking.
Even as digital payments become popular, there are still times when paying cash is necessary or preferred.
Avoiding ATM Fees
Stay away from out-of-network ATMs. Switch to a bank that doesn’t have fees. Join a credit union that’s part of the CO-OP ATM network. Get cash back at a store.
Bank-Specific Information
Capital One ATM fees were the cheapest of the banks surveyed, as it doesn’t charge any ATM fees for using non-network ATMs. Some banks that charge less than the average $3 include Bank of America, BBVA Compass, Chase, Citibank, Comerica, HSBC, Regions, U.S. Bank, and Wells Fargo.
ATM Fee Examples and Strategies by Banks
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USAA Bank: Classic Checking account offers free access to more than 60,000 ATMs in the U.S.
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Bank of America: Offers over 15,000 ATMs in the U.S., but to avoid fees, you’ll have to be eligible for Preferred Rewards.
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TD Bank: The Beyond Checking account reimburses fees such as ATM transactions.
Fee-Free ATM Access
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EverBank: Offers fee-free use of more than 80,000 ATMs.
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Quontic Bank: Offers fee-free access to more than 90,000 ATMs with certain checking accounts.
ATM Limits
Daily ATM withdrawal limits typically range from $300 to $5,000, with most between $500 and $3,000.