An out-of-network fee is a charge that banks impose when customers use an ATM that does not belong to their bank or its partner network. These fees are applied in addition to any surcharge from the ATM owner.
How It Works
When you use an ATM outside your bank’s network, two fees may apply: (1) a fee from your bank for using an external machine, and (2) a surcharge from the ATM operator. Together, these can add several dollars to a single withdrawal.
How to Avoid It
- Use in-network ATMs: Stick to your bank’s own machines or its partner network.
- Check account perks: Some premium accounts reimburse out-of-network fees.
- Plan ahead: Withdraw cash before traveling to areas with fewer in-network ATMs.
Final Thoughts
Out-of-network fees can add up quickly if used often. Knowing your bank’s network and planning withdrawals carefully helps you avoid unnecessary charges.