ATM fees hit record high

(KFVS) - For the eleventh year in a row, ATM fees have hit a record high.

According to a report from bankrate.com, the average total fee for an out of network withdrawal is $4.69. The report shows that fee is up 55 percent over the last 10 years.

Customers may get hit with two separate fees: the owner of the machine charges one fee and your bank can charge another for using another bank's ATM.

A spokesperson for Bankrate said that people are using ATMs less because more and more people are paying with credit instead of cash. Because of that, banks have fewer opportunities to charge fees that are used to maintain their ATM networks.

So, how do you avoid fees? Only use ATMs in your network. Most banks have apps that help find an in-network ATM nearby.

You may also consider using a bank that reimburses out-of-network charges.

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