8 banks that reimburse ATM fees

ATM fees are among the most commonly charged banking fees — and they’ve hit a record high. The average total ATM fee for using an out-of-network ATM is $4.77, according to Bankrate’s 2024 Checking Account and ATM Fee Study, the highest since Bankrate began tracking these fees in 1998. Fortunately, many banks and credit unions are making it possible for customers to take out cash without having to pay for it.

Reimbursing out-of-network ATM fees is another way that some financial institutions are breaking out of the traditional banking model. Banks and credit unions that reimburse some, or all, ATM fees are taking another step toward making everyday transactions less costly for consumers.

Here are eight banks and credit unions in the U.S. that pay you back for out-of-network ATM fees.

Banks that pay you back for ATM fees

Alliant Credit Union

Alliant Credit Union offers up to $20 a month in ATM fee rebates when you use the Alliant Visa debit card. The rebate is deposited into your checking account at the end of each day that you’re charged ATM fees, excluding foreign transaction fees.

Ally Bank

Ally Bank is one of the top-rated banks according to Bankrate’s scores and is known for charging very few fees on its accounts. It has no overdraft fees, incoming wire fees or account maintenance fees, and it reimburses up to $10 a month in out-of-network ATM fees.

Axos Bank

Axos Bank offers unlimited domestic ATM fee reimbursements for the Essential Checking (its standard checking account), Rewards Checking and Cashback Checking accounts. On the Golden Checking account, which is designed for customers ages 55 and over, up to $8 in ATM fees can be reimbursed each month.

Charles Schwab Bank

With a Charles Schwab High Yield Investor Checking account, customers receive unlimited ATM fee rebates worldwide. All ATM fee reimbursements each month appear as a lump sum at the end of the month. And while you may be charged a conversion fee when banking internationally, Charles Schwab also doesn’t charge foreign transaction fees.

LendingClub

At LendingClub, customers with a LevelUp Checking account receive unlimited ATM fee reimbursements. The reimbursements are deposited into your account at the end of each statement cycle.

Navy Federal Credit Union

Navy Federal Credit Union offers up to $10 in ATM fee rebates per statement cycle for its Free Easy Checking account. To be eligible to have this account and receive rebates, members must either set up direct deposit or make at least 20 transactions each month, or the account will be converted to one that does not reimburse ATM fees at a specific point. To join Navy Federal Credit Union, you’ll also need to be a member of the military or have a household connection to someone who is.

TD Bank

With TD Bank’s Beyond Checking account, customers can get unlimited out-of-network ATM fee reimbursements. However, a minimum balance of $2,500 in the account is required to qualify for ATM fee reimbursements.

EverBank

EverBank, formerly known as TIAA Bank, offers a checking account that gives up to $15 in ATM fee rebates each month, regardless of your bank balance. But if you have an average daily balance of $5,000, you’ll get unlimited reimbursement of ATM fees.

How to avoid ATM fees

Besides switching to an account that reimburses ATM fees, there are several ways you can avoid ATM charges:

• Stick to in-network ATMs. Most banks, even online banks, are partnered with a large network of ATMs. You can usually find an ATM directory either on the bank’s website or mobile app to see in-network ATMs near you.
• Get cash back when you check out at a grocery store or other retailer.
• Take out larger sums of cash in a single ATM visit, so that you aren’t incurring multiple fees for smaller withdrawals.

What to keep in mind about ATM fees

If you frequently use ATMs, factoring in ATM fees when selecting a bank is a good idea. When considering a bank, find out what their ATM network is like. Ally Bank, for example, offers 75,000 fee-free ATMs in the MoneyPass network.

Consider branch access, too. You can make a withdrawal at a bank branch or at an ATM attached to one. 

While ATM fees are an important consideration when choosing the best checking account for you, don’t forget other vital things. You want to have a bank that is FDIC-insured, doesn’t charge a monthly maintenance fee (or gives you easy ways to waive it) and has other helpful features, such as mobile deposits.

Bottom line

The frustration of paying an extra charge for withdrawing your own money is one that many banks and credit unions have started to address by reimbursing out-of-network ATM charges. The requirements to be eligible for these reimbursements vary from bank to bank, so make sure to check with your financial institution’s disclosures to see if you’re eligible.