ATM surcharges rise according to new report

by: Scott Wickersham Updated:

Loading
CHARLOTTE, N.C. —

A new report from Bankrate.com suggests that banks are taking more money out of accounts in ATM surcharges than ever before.

For college students, the fees have gotten out of control.

"It's just more money out of your bank that you're working for," said college student Marguerite Rehders,  "It's hard enough making ends meet while you're in school (and) you have a job on the side. It's really frustrating."

The data from the report shows a 4 percent increase in surcharges when you use a machine that doesn't belong to your bank.

There is an 11 percent increase from your bank for using another bank's ATM, and for some people that now means more than $4 in charges for every transaction.

"I think I went to one the other day, it was $3.75. That's too much," said Rehders.

According to the report, free checking accounts are becoming harder to find.

Non-interest accounts are down dramatically in the past few years because of increased regulations and limits on overdraft fees, which cut bank profits.