Can I be charged for using my own bank’s ATM?

Yes, some banks assess their own ATM fees. Federal law allows banks to charge certain fees, including ATM fees (even for their own ATMs), but they must be disclosed when customers open an account. This disclosure, which is usually provided in your Account Agreement or in a separate document that lists all fees, provides customers with all required information about ATM fees.

While ATM fees are common today, banks did not always charge such fees. When banks first began providing ATMs, customers were leery of using them for their banking transactions, so in order to help customers overcome their skepticism, banks did not charge customers any fees for using ATMs. Over time, as ATMs became more popular, banks began charging a variety of fees, such as a fee for each use of an ATM or fees for exceeding a bank’s monthly limit of ATM transactions. Some banks have reduced the amount of fees they charge their own customers for ATM use, but others continue to do so. If your bank charges ATM fees for using its machines, you can avoid some fees by shopping around to find a bank that does not charge customers for using its ATMs. Also, when using your debit card to make a purchase, you can ask for cash back. This type of transaction usually has no fee, so you can get your cash free of charge.