ATM fees at a record high - NBC12 - WWBT - Richmond, VA News On Your Side

ATM fees at a record high

(Source: File photo) (Source: File photo)
(WWBT) -

New research from Bankrate shows that ATM fees shot up more than 55 percent in the past decade. 

They're now at a record high with a national average fee of $4.69 per transaction.

The highest fees are happening in Pittsburgh, at an average $5.19. Fees in New York ($5.14) and Washington, D.C. ($5.11) are not far behind. 

Banks will tell you that it costs a lot to maintain ATMs, but the fees are also big moneymakers. Chase, Bank of America and Wells Fargo netting more than $1.1 billion last year from the fees. 

It is easy to dodge these fees. 

One way -- figure out what you need in cash for the week and make it a point to stop by your own bank's ATM for that withdrawal.

Or when you're at the grocery store checkout, push the "cash back" button and get your money out that way.

But watch out, some stores do charge for cash back now.  

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