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Annenberg School of Communication and Journalism University of Southern California

ATM Fees Reach New High

Using an ATM out of your network just got a little more expensive. 

Using another bank's ATM keeps getting more expensive, according to a new report by Bankrate.

The report says fees increased an average of 5 percent, which means fees are now an average of $4.35, when you take into account the fees banks charge when their customers use another networ's ATM and when an outside customer uses its services.

Bankrate's chief financial analyst, Greg McBride, said there has been a 23% increase in the last five years alone. Additionally, he noted that on average, people are being smarter about not using such ATMs, which he says may be why there's been such a spike in fees. 

The U.S. Government Accountability Office reported back in February that 852 universities nationwide have methods of supplying students with debit or prepaid cards. They also found that credit unions tend to have lower fees.

USC students like Francesca Conterno bank with the USC Credit Union, so they have access to withdraw money right from inside the credit union. She said that if she's ever away from the credit union in need of money she would go ahead and pay the fee. 

Another student. Daniel Allas, says finding a Bank of America ATM is relatively easy around USC. 

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