Sep 18, 2023

Question of the Day: What is the average total cost to withdraw money from an out-of-network ATM?

Want your money? It's gonna cost ya...

Answer: $4.73

Graph of average ATM fees from 1998 -2023


  • Did you know that there is a charge for taking cash out of an out-of-network ATM? Do you think most people who use ATMs that are out-of-network are aware of this charge?
  • Why do you think there is a charge to use an ATM that is out-of-network?
  • What are some strategies you can use to avoid out-of-network ATM fees?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.


Behind the numbers (Bankrate):

"For the fifth year in a row, 100 percent of ATM-owning banks in Bankrate’s study reported charging non-customers for using their ATMs. The average surcharge levied by ATM owners is now $3.15, up slightly from last year’s record of $3.14 and marking the 22nd record high in the past 25 years.

In all, the average total cost of an out-of-network ATM transaction is now $4.73, which combines the average fee of $1.58 charged by one’s own bank with the average surcharge of $3.15 levied by an ATM-owning bank."



Be sure to check out the Online Bank Simulator to help your students manage a bank account in the digital age. 


For more resources focused on checking accounts, go to the NGPF Checking Unit page.




About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.

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