What is a withdrawal fee?

When you use an ATM that is not affiliated with your financial institution, you may be subject to an additional fee. This fee, known as an out-of-network ATM fee, is charged by your financial institution.

The purpose of this fee is to compensate your financial institution for the costs associated with providing access to ATMs outside of its own network. It is typically added to your regular account fees.

The amount of the out-of-network ATM fee can vary depending on your financial institution's policies and the specific ATM you use. Some institutions may charge a flat fee, while others may base the fee on a percentage of the withdrawal amount.

In addition to the out-of-network ATM fee, you may also be charged a fee by the ATM operator itself. This fee is separate from the one charged by your financial institution and can also vary depending on the ATM and its operator.

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