Know Before You Go: ATM Balance Inquiry Fees
Sometimes, simply checking your bank balance via an automated teller machine (ATM) can cost you money. ATM balance inquiry fees are becoming increasingly common, and as a result more and more people are becoming aware of the costs associated with using an ATM for routine banking services. In this article, we take a closer look at the phenomenon of ATM balance inquiry fees and the implications it has for bank customers.
ATM Balance Inquiry Fees: A Review
ATM fees have been on the rise, with the average ATM withdrawal fee hitting a new high of $4.73. But many banks have additional fees when it comes to checking your balance at the ATM, which can add up over time. In this article, we’ll take a look at the different types of ATM balance inquiry fees and how to avoid them.
Bank ATM Balance Inquiry Fees
The most common ATM fees come from your bank. Most banks charge a flat fee of around $2.50 for a balance inquiry, although some may charge slightly more or less. This fee is often waived if you use a bank’s ATM, but not always. Additionally, some banks may charge a fee for international ATM inquiries, so check with your bank before you travel abroad.
Non-Bank ATM Fees
Not all ATMs are run by banks, and some of these non-bank ATMs may charge a fee for a balance inquiry. For example, most gas station ATMs will charge a fee for checking your balance. These fees can vary, so it’s a good idea to double-check what any non-bank ATM will charge you for a balance inquiry before you use it.
ATM Fee Reimbursement Programs
Although there generally isn’t a way to completely eliminate ATM balance inquiry fees, many banks offer ATM fee reimbursement programs that will reimburse you for any fees you have to pay at an out-of-network ATM. Be sure to check with your bank to see if they offer a fee reimbursement program, and how it works.
Conclusion
When it comes to ATM balance inquiry fees, the key is to be informed. Be sure to check with your bank about what ATM fees they charge, as well as any fee reimbursement programs that may be available. Additionally, it’s a good idea to double-check what fees non-bank ATMs will charge for a balance inquiry, to avoid any unexpected charges. Being aware of these fees can help you save money, and help you make more informed decisions when it comes to ATM usage.