Feeding the machine

ATM 1Step away from that teller machine and go back to your network while you still can!!

That’s right, there’s a cost to hitting the ATM. And it’s worse here than almost anywhere else, according to New York-based Bankrate.com: Atlanta is the most expensive metro in the country when it comes to

Bankrate says metro Atlanta metro area has the nation’s highest out-of-network fee for using an ATM: $5.15.

Adding to the financial insult, the report concludes that Atlanta has the second-highest average overdraft fee: $34.57.

Nationally, the average fee for going to an out-of-network ATM is $4.52 and the average overdraft fee is $33.07. Both are higher than they have ever been, says Bankrate, which collects, analyzes and reports on consumer financial data.

Shopping around for the bank or credit union is the smart approach, said said Greg McBride, Bankrate.com’s chief financial analyst. “The most important thing for consumers to know is that all of these fees are completely avoidable.”

The highest average ATM fees:

  1. Atlanta $5.15
  2. New York $5.03
  3. Phoenix $4.88
  4. Miami $4.84
  5. Milwaukee $4.78

And the lowest average ATM fees:

  1. San Francisco $3.85
  2. Cincinnati $3.86
  3. Kansas City $4.01
  4. Dallas $4.11
  5. Seattle $4.21

 

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