Your Money Minute – "Record High ATM Fees"

Podcast: Your Money Minute (CNBC)
Host: Jessica Ettinger
Guest Contributor: Sylvana Hanau
Date: September 30, 2025
Duration: ~1 minute
Episode Focus: The surge in ATM fees to new record highs and tips to avoid paying them.

Main Theme

This episode spotlights the significant rise in out-of-network ATM fees, their regional differences, and practical tips for consumers on how to avoid or minimize these charges. CNBC's Jessica Ettinger and Sylvana Hanau deliver clear, actionable advice in a rapid-fire 60-second format tailored to everyday financial decisions.

Key Discussion Points & Insights

1. ATM Fees Reach New Record Highs

• Record-setting fees: For the third year in a row, average ATM fees have risen to new heights.
  • Quote [00:00]:
    • Jessica Ettinger: “ATM fees have hit a record high for the third straight year.”
• Average cost: The nationwide average fee for out-of-network ATM withdrawals increased by nearly 2% over the past year, now standing at $4.86.
  • Quote [00:10]:
    • Sylvana Hanau: “The average fee for an out-of-network ATM rose nearly 2% in the past year to $4.86.”

2. Regional Variations in Fees

• Most expensive cities: Atlanta, Phoenix, and San Diego top the list for highest ATM fees.
• Least expensive cities: Boston, Seattle, and Philadelphia have the lowest average fees.
  • Quote [00:17]:
    • Jessica Ettinger: “You’re paying the highest ATM fees in the nation if you live in Atlanta, Phoenix, and San Diego. The lowest are in Boston, Seattle, and Philadelphia.”
• Widespread expensive machines: Many ATMs across the country now charge more than $5 per transaction, even though the average is just under $5.

3. Actionable Advice for Listeners

• Changing banks:
  • If you often pay these fees, consider switching to a bank with lower or reimbursed ATM fees.
    • Quote [00:33]:
      • Jessica Ettinger: “If you’re routinely paying these unnecessary fees, it is time to change banks.”
• Strategies to avoid fees:
  • Opt for banks with larger, more accessible ATM networks.
  • Use online banks or brokerages, several of which now reimburse ATM fees.
    • Quote [00:49]:
      • Sylvana Hanau: “Consumers can most easily avoid those fees by banking with institutions that offer a wider ATM network. And a number of online banks and brokerages now reimburse ATM fees.”

Notable Quotes & Memorable Moments

• “That’s almost five bucks to get your own money out.”
  • Jessica Ettinger [00:17]
• “Plenty of ATMs have fees greater than $5 all around the country.”
  • Jessica Ettinger [00:27]
• “It is time to change banks.”
  • Jessica Ettinger [00:33]
• “Consumers can most easily avoid those fees by banking with institutions that offer a wider ATM network.”
  • Sylvana Hanau [00:49]

Important Timestamps

• 00:00 – ATM fees hit new all-time highs for third consecutive year (Jessica Ettinger).
• 00:10 – Nationwide average fee increases and top/bottom cities by cost (Sylvana Hanau, Jessica Ettinger).
• 00:27 – ATMs charging over $5 and call for listeners to change banks if affected (Jessica Ettinger).
• 00:49 – Strategies to avoid fees, including online banks and broad ATM networks (Sylvana Hanau).

Tone & Style

Jessica Ettinger delivers the episode with urgency and practicality, emphasizing the importance of avoiding unnecessary fees. The information is concise yet direct, aiming to empower listeners with quick, actionable takeaways tightly linked to current financial headlines.

Summary
If you frequently encounter ATM fees—especially in cities like Atlanta or Phoenix—it might be time to reconsider where you bank. By choosing institutions with broad ATM networks or that reimburse ATM fees (including many online banks), you can easily avoid paying nearly $5 each time you withdraw your own money.