...well I'll be da**ed.
As a customer of Wells Fargo, I can't tell you the number of times I've gotten sick to my stomach (not literally) when I've seen those $1.75-3.00 dollar fees. So what ha pens with ATM fees increase?
According to NYMagazine, ATM fees have increased as far as $4.00. The national average for an over-draft fee has landed at $32.74 mark. The expectancy for a gradual increase in ATM fees along with money deposited into personal checking accounts will be something consumers can look forward to.
Greg McBride who serves as the chief financial analyst for Bankrate.com told the Associated Press that for all of us who use different banks to withdraw money can lead to two different fees: one fee is charged by your home bank and the other is charged by the bank that owns the ATM that is used. That means it may be better and more financially suitable to simply just withdraw money from the bank you're affiliated with.
Another suggestion to avoid fees, consumers can use their bank's website to now find fee-free ATM's or get cash back after making purchases while being at a cash register.
In 2008 during the height of the recession, bank regulations went into effect that banks can now charge for certain things from personal checking accounts. I admit I was rather late when I discovered that Wells Fargo was taking up to $6 dollars of money for supposed bank "fees" however, my ignorance on the matter came from simply not asking questions when I saw the deductions.
For more about this topic, check out the rest h/t New York magazine
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What do you think of ATM fees increasing?
