ATM non-customer surcharges rising, study says

Withdrawing cash from an ATM outside of your bank’s network is getting more expensive.

According the the U.S. Government Accountability Office, ATM surcharges from banks and credit unions jumped 20 percent between 2007 and 2012.

Some of those surcharges are as high as $5.

Beehive Federal Credit Union President and CEO Shane Berger said each ATM transaction costs the bank money, so he understands why the bank would want to cover that cost.

A lot of credit unions, like Beehive, still let non-customers use the ATM for free.

“We are not pressured by stockholders to make a large profit on an annual basis, so we’re able to keep the fees and charges very low compared to other financial institutions,” Berger said.

To find ATM’s in your area that don’t charge non-customers, use the locator at allpointnetwork.com.