How to Avoid ATM Fees - NerdWallet (2024)

FAQs

How to avoid ATM withdrawal fees? ›

“The ATMs that belong to your financial institution (bank or credit union) will generally offer free withdrawals.” If you want to get cash without paying an ATM fee, leverage your bank's ATM locator.

Final answer: Withdrawals from either a savings or checking account may incur ATM fees, especially if out-of-network. Avoid fees by using a debit card directly or finding a bank that reimburses ATM fees.

Use a bank that reimburses fees.

Some banks and credit unions offer ATM fee reimbursem*nt up to a certain amount each month. These rebates can save you money if you have to use an out-of-network ATM once or twice a month. Some premium bank accounts reimburse all ATM fees, no matter how much is charged each month.

Compare the Top Banks for Avoiding ATM Fees. The best banks for avoiding bank ATM fees have free regional or national ATM networks, so you won't be charged for using an ATM. Some banks may also refund fees charged by ATM providers. All of the financial institutions on our list are protected by FDIC or NCUA insurance.

Use your bank's ATMs, both locally and abroad. ATMs outside your bank's network may charge a fee. Get cash from in-store purchases. Use your debit card to get cash back when checking out at a store to avoid taking out cash at other bank's ATMs that may charge a fee.

"Banks give free access to their account holders, but it's non-account holders who have to pay the costs associated with maintaining these networks. As there are fewer transactions, those costs go up across the network, and non-customers bear the brunt of those fees."

What ATMs don't charge a fee for US Bank? ›

You can transact at ATMs in participating 7-Eleven stores without ATM Transaction or surcharge fees. At participating Moneypass Network ATMs, you'll avoid surcharge fees when you use your U.S. Bank card.

Banks typically provide customers with the freedom to make five withdrawals per month without any additional charges. However, after reaching this limit, a fee will be imposed for each subsequent withdrawal made at an ATM.

This means replacing old or faulty hardware, installing the latest software updates, and performing regular maintenance and testing. Upgrading your hardware and software can improve the speed, reliability, and security of your ATM transactions, as well as reduce the risk of errors, malfunctions, and fraud.

Most banks and credit unions have a network of ATMs that offer free access to your money. But if you go outside of the network, a fee may be imposed, including: ATM operator fee. Also known as the surcharge, an operator fee is charged by the ATM owner to noncustomers using its ATMs.

"Banks give free access to their account holders, but it's non-account holders who have to pay the costs associated with maintaining these networks. As there are fewer transactions, those costs go up across the network, and non-customers bear the brunt of those fees."

Axos Bank is the best option overall because it has more combined benefits than its competitors. With a checking account, you pay $0 in ATM fees throughout the U.S. You also avoid other bank fees such as overdrafts.