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ATM fee

An ATM fee is a charge made to your account, usually your checking account for the use of an automatic teller machine or ATM.

Expanded Definition

The ATM found in a mall, shop, or casino may be operated by a private company who may have its own charges for the use of the machine. This may be a flat fee per transaction or percentage of the withdrawal amount. Banks often allow free use of their own machines and sometimes have agreements that allow free use of the ATMs of other banks.

When shopping for a bank or checking account, ATM fees are an appropriate feature to review in selecting the kind of account you want. For some the fees can be a significant expense.

Some brokers allow you to access funds in your investment account by ATM machine. Charles Schwab for one advertizes that it will refund any ATM fees charged to your account.

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