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Americans paying average ATM fee of $4.72

Last Updated Oct 3, 2019 at 10:55 am PST

FILE - This Nov. 29, 2018, file photo shows an ATM in Philadelphia. (AP Photo/Matt Rourke, File)
Summary

Houston, Texas has the highest average fees for using an out-of-network ATM at $5.58

Out of 25 U.S. cities studied, Los Angeles was home to the lowest bank fees, but even there it's $4.15

TORONTO (680 NEWS) – While Canadian bank fees may seem steep, they’re nothing compared to our neighbours to the south.

Americans are now paying an average fee of $4.72 to withdraw cash from an ATM outside of their bank’s network. A survey from Bankrate.com survey says that’s a 33 per cent increase in fees over the last decade.

Houston, Texas has the highest average fees for using an out-of-network ATM at $5.58. In Canadian dollars, that’s $7.50 to withdraw money from a bank machine.

Out of the 25 U.S. cities studied, Los Angeles was home to the lowest fees, but even there it’s $4.15.

The reason the fees are so high – because they can be.