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October 03, 2017 02:19 PM

ATM Fees At Record High For 11th Year In A Row

For the 11th straight year, ATM fees continue to hit record highs across the country.

A report from Bankrate says the average total fee for an out-of-network withdrawl is now at an all-time high of $4.69, up 55 percent over the past decade.

Customers can be hit with two separate fees when using an out-of-network ATM: The owner of the machine charges one fee while the bank can charge another for using a different company's ATM.

According to Bankrate's Greg McBride, ATM use is decreasing because more customers are using cards for payment. With fewer opportunities to charge fees, machine owners raise the fees in order to pay for maintenance.

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