ATM Fees and $90M Cash-Back Charges Hit Record High in US

ATM fees in the United States have reached a record high, with noncustomers facing significant charges when withdrawing cash from ATMs. According to a survey by Bankrate, these fees have hit an all-time high, reaching a 26-year high with charges topping over $5 in some cities, particularly affecting certain metropolitan areas. Meanwhile, a report by the Consumer Financial Protection Bureau (CFPB) highlights that major retailers, including Dollar General, Dollar Tree, and Kroger, are charging consumers over $90 million annually in cash-back fees at registers. These fees are impacting individuals in areas with limited banking access, often referred to as banking deserts.