Survey Shows ATM Fees on the Rise

When Bankrate published their annual Checking Survey in 2014, it provided some surprising reports of the high rates for ATM fees and overdraft fees. We know fees can add up quickly, and that’s why we keep transaction fees out of our Quickcharge software.

Bankrate’s survey shows that, on average, the fee banks are charging non-customers rose to $2.77 this year, and the average fee charged from a customer’s bank for using another bank’s ATM rose to $1.58. Combine those two fees and consumers are looking at an average cost of $4.35 every time they choose an out-of-network ATM for cash withdrawal. That’s a huge financial hit!

What can you do to avoid ATM fees? Be proactive.

Time magazine came up with several easy ways to avoid ATM fees, all of which involve taking a proactive stance. When it comes to personal finance issues, being aware of the fees automatically makes you more likely to find ways to avoid them.

The best solution: no fees!

MM Hayes’s cashless payment solution, Quickcharge, completely removes any need for cash payments, thereby eliminating the need for regular trips to the ATM. Organizations from hospitals to large businesses use our Quickcharge software for employee purchases at their cafeterias, gift shops, company stores, and much more. With convenient cashless options including automated payroll deduction, Quickcharge offers employees and employers alike a way to avoid the ATM fees, interest charges, and credit/debit card swipe fees. And since Quickcharge has no transaction fees for employees or for the organization, the savings can really add up!