ATM fees have jumped 20 percent over the last five years, and some banks are now charging as much as $5, according to a new government audit released Thursday.
The Government Accountability Office said the average ATM fee has jumped from $1.75 in 2007 to $2.10 in 2012, standardized for 2012 dollars.
Banks told the auditors that their costs for running ATMs have increased over the last five years, while ATM revenues have declined. The banks said they expect fees will continue to rise.
(Source: Washington Times)
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What a great source of unearned income.
Banks are about the only business where they charge customers for the privilege of doing business with them.