Loss of Revenue Lead To Rising Atm Fee

10 May 2011

A recent studing has shown the ATM usage fees increased as banks lost other sources of revenue. In the United States, the national average ATM service charge is $ 3.74, a figure that reflects the costs assessed by the bank to go-out-and-tissue bank charges which have non-customer ATM fee. Most financial institutions charge for both.
Ron Shevlin, a retail banking analyst at research firm in Boston-based Aite Group, said:
“Changes in industry regulation has actually put the damper on the ability of banks to make money on fees.”
the new law has reduced the amount of fees banks could charge on overdrafts and credit cards debit cards, which became a hot topic in recent years. In Britain, many protests against the allegedly harsh punishment imposed on the customers overdraft to exceed their limits by even 1p.
Recent economic crisis has also impacted very adversely on the reputation of the banking institution, and as a result of their ability to profit from what is seen was not fair and cost additional fees. As a tool against these restrictions, it appears that ATM fees are rising.
In the U.S., some non-customer ATM fees that the bank is $ 5 for a single transaction.In fact, when a non-customers using ATMs of other banks, they are charged twice, once by the bank that has ATMs, and once again by their own bank.
However, there are various ways to avoid paying what might seem to be too high an additional fee to withdraw money on your own. If possible, you should always use your own bank’s ATM. By always having a good idea from this site, hopefully you will not need to rely on other banks and charged for it.
However, we all know this is not always possible, especially when you are in a foreign environment, or just need to get money fast. In this case, there is not much you can do.If you are traveling away from hoem, probably a good idea to know the location of your own bank’s ATM machine before.
Or, there is a network of surcharge-free financial institutions that allow customers to withdraw their funds for free. The research covered by this, and can know where they are located.
So, while banks have been limited when it comes to the cost of credit card and debit cards, ATM recent trends indicate that they hope to counter the loss by increasing the cost of withdrawal, trying to get back some of the lost revenue from other sources.


TAGS Rising ATM Fee


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