Best Banks for ATMs with No Fees & Wide Networks

Do you use an automatic teller machine (ATM) regularly? If so, ATM fees could be taking a big bite out of your checking account – and that just isn’t necessary.

Avoiding those fees does not mean kicking the ATM habit. It just means making the right choices about which machines you use.

What Are the Options for Free ATMs?

Fortunately, you have options. Many banks offer free ATM access as long as you use the right machines. Others even reimburse their customers for ATM fees, regardless of which machines they use.

There are three options for how to get around ATM fees:

• Choose a bank with an extensive branch network – Traditional banks with a large footprint often provide fee-free ATM access at their own locations, making it easy to withdraw cash without extra charges.
• Choose a bank that is part of a major ATM network – Many online banks and credit unions partner with networks like MoneyPass, Allpoint, or America ATMs, giving you nationwide access to fee-free ATMs even if the bank itself has no physical branches.
• Choose a bank account that reimburses ATM transaction fees – Some financial institutions, such as Fidelity Cash Management, Axos Bank, and LendingClub Bank, offer unlimited ATM fee reimbursements, ensuring you can withdraw money anywhere without paying extra.

By selecting the right bank or ATM network, you can enjoy fast cash access while avoiding unnecessary charges. This article examines each option for avoiding ATM fees so you can make a choice that saves you money without sacrificing convenience.

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What’s at Stake: The Cost of ATM Fees

First of all, how much do ATM fees really matter?

You might be surprised. While most banks offer free ATMs, this generally only extends to specific machines. Free ATM access may depend on whether you are using a machine operated by your bank to withdraw money or one that is part of a network to which your bank belongs.

Otherwise, if you use the wrong machine, you pay not once but twice each time you access your money.

First of all, if your financial institution doesn’t have a relationship with the operator of the machine you use, that operator will charge you an ATM operator fee.

Second, your bank or credit union will likely charge you an additional fee for using an out-of-network ATM.

According to the MoneyRates Checking Account Fee Survey, ATM operators charged an average of $2.87 for noncustomers who used their machines. Banks charged an additional $1.74 when their customers used an out-of-network ATM to withdraw cash.

That totals $4.61 every time you use your ATM. If you’re one of those people who draws weekly spending money from an ATM, using the wrong machine could cost you nearly $240 a year.

That’s a cost well worth avoiding.

Banks with Extensive Branch Networks

One way to avoid using out-of-network bank ATMs is to choose a bank with a large number of branch locations. In this sense, the biggest financial institutions have an advantage.

Four financial institutions in the United States offer retail deposit accounts and over $1 trillion in deposits. Here are profiles of the location distribution these mega-banks offer in terms of both ATMs and brick-and-mortar branches:

JPMorgan Chase

• Total deposits: $2.3 trillion
• Total U.S. branches: 4,700
• Number of states with branches: 35
• Number of ATMs: 16,000

Drawbacks: There is no free checking except for student accounts. Overdraft fees are higher than the industry average. Savings account rates are less than 1/40th of the industry average.

Bank of America

• Total cash deposits: $1.9 trillion
• Total U.S. branches: 3,900
• Number of states with branches: 37
• Number of ATMs: 18,000

Drawbacks: No free checking and overdraft fees are higher than the industry average. Savings account rates are less than 1/14th of the industry average.

Wells Fargo

• Total deposits: $1.3 trillion
• Total U.S. branches: 8,050
• Number of states with branches: 42
• Number of ATMs: 13,000

Drawbacks: No free checking except for youth accounts. Overdraft fees are generally higher than the industry average. Savings account rates are less than 1/40th of the industry average.

Citibank

• Total deposits: $1.4 trillion
• Total U.S. branches: 2,649
• Number of states with branches: 13
• Number of ATMs: 3,200

Drawbacks: No free checking except for student accounts. Overdraft fees are higher than the industry average. Savings account rates are less than 1/10th of the industry average.

Two things to notice about each of these mega-banks:

• Despite their size, none of them serve all 50 states
• All offer less favorable checking and savings account terms than most banks.

So, while going with a very large bank is one way to avoid ATM fees, it is not a perfect solution. Fortunately, there are other options.

Major ATM Networks

Not every bank can have a large number of brick-and-mortar bank branches spread across the country, but ATM networks are a great equalizer.

ATM networks have usage arrangements with ATMs around the nation. Banks can sign up for one or more of these networks to offer their customers the wide geographic reach of much larger financial institutions. So, if you are a regular ATM user, find out if your bank belongs to any of the following major ATM networks:

• Allpoint: This subsidiary of Cardtronics has a network of 55,000 ATMs located in the United States, Canada, Mexico, Australia, and the United Kingdom.
• MoneyPass: This subsidiary of Fiserv offers a network of 32,000 ATMs located across the United States.
• NYCE: This ATM network, operated by the banking and payments technology company FIS, has thousands of locations across the United States.
• Pulse: This ATM network, part of Discover, offers half a million locations in the United States and over 2.1 million ATMs in 134 countries.
• STAR: This network is operated by First Data and has locations in all 50 states.

ATMs are generally prominently marked with the names of any networks to which they belong, and some machines may belong to more than one network. This can make it easy to find free ATMs to use, as long as your bank belongs to a major network.

Banks That Reimburse ATM Fees

Online-only banks do not have physical branch networks on which to rely, and some pass on joining ATM networks in favor of reimbursing ATM fees.

The following is a review of how some of the largest online-only deposit institutions handle ATM fee rebates:

Charles Schwab Bank offers unlimited ATM fee reimbursements for cash withdrawals made using the Schwab Bank Visa Platinum Debit Card.

Ally Bank offers free use of any Allpoint ATMs and will reimburse up to $10 per statement cycle for fees incurred at other ATMs.

Capital One Bank will reimburse up to $15 per statement period for fees incurred at any ATM within the United States and for some ATMs outside the U.S.

USAA Bank has a network of 60,000 ATMs, which its customers can use for free. It will also reimburse up to $15 in fees for using out-of-network ATMs.

Discover Bank offers free withdrawals from 60,000 in-network ATMs nationwide.

As the above examples show, even banks that don’t have brick-and-mortar locations can offer you the convenience of free access to your money at a wide variety of locations. However, checking an online bank’s ATM policies is important before you sign up.

How to Deposit Cash with an Online Bank

If you use an online bank, making a deposit requires a different approach than with a traditional brick-and-mortar bank. Most online banks don’t accept cash deposits directly, but several ways exist to fund your savings or checking account.

One common option is mobile check deposit, which allows you to deposit checks through your bank’s mobile app. Simply take a picture of the check and follow the app’s instructions. Direct deposits from your employer or government benefits are another convenient way to add money to your account without hassle.

Some online banks partner with retail stores to accept cash deposits. For example, you may be able to add cash to your account at locations like CVS, Walgreens, or Walmart, though fees may apply. Fifth Third Bank and some national banks offer options to deposit cash at select ATMs, but availability depends on the bank’s network. Check whether cash deposits are supported if your online bank provides access to MoneyPass ATM networks or other partner ATMs.

Alternatively, you can deposit cash into an account at a traditional bank and then transfer money to your online account. If you’re looking to minimize fees, consider online banks that reimburse ATM withdrawals and offer fee-free deposits.

Before choosing an online bank, review policies on minimum balances, monthly fees, and bank account bonuses to maximize your savings and access cash when needed. Mobile banking provides flexibility, but knowing your options for deposits ensures a smooth banking experience.

Strategies for Minimizing ATM Fees

Based on the above options for free ATM usage, here’s a summary of strategies for minimizing ATM fees:

Join a Bank With Branches or a Network of Fee-Free ATMs to Fit Your Movements

If you are thinking of joining a bank with a large number of locations, check how convenient those locations will be to places you visit frequently. America ATMs within major networks such as MoneyPass, Allpoint, or even those associated with Fidelity Cash Management and LendingClub Bank can help you access cash without extra charges.

Use a Bank That Reimburses ATM Charges

Large ATM networks can help avoid ATM fees, but ultimately, a bank that reimburses fees from out-of-network machines might offer the greatest freedom of choice. Some banks, like Axos Bank, provide unlimited ATM fee reimbursements, ensuring that you can access cash anywhere without worrying about fees charged by third-party machines.

Wean Yourself Off Cash

Society is increasingly transitioning to cashless payments. Using your debit card, credit cards, or a virtual wallet for everyday transactions can reduce your need for cash. Additionally, many modern contactless ATMs allow you to withdraw fast cash using your phone instead of a physical card, making cash access more convenient when necessary.

Plan Before You Travel

The most expensive ATM fees are often in airports and hotels catering to tourists. You also may have more trouble finding in-network ATMs when traveling internationally. To avoid excess fees, withdraw how much cash you’ll need before your trip or use ATMs affiliated with your bank’s global partners.

Look for the Label

Don’t assume it is in your bank’s network when using an unfamiliar ATM. Before inserting your card, check whether it displays the name of an ATM network your bank belongs to. This simple step can help you avoid unnecessary fees charged on withdrawals.

Use an ATM Locator Mobile App

Many banks and ATM networks offer mobile apps that help you locate fee-free ATMs. Whether you need a drive-up ATM or one that accepts deposits, an app can save you time and money. If your bank is a member FDIC, these apps often integrate with your account security settings to ensure safe transactions.

Keep Your PIN Secure

Always protect your personal identification number (PIN) when using an ATM. If you’re withdrawing a large dollar amount, consider using an in-network ATM or a fee-free option to avoid unnecessary expenses.

Keep More of Your Money by Avoiding ATM Fees

By following these strategies, you can minimize ATM fees and keep more of your money for yourself. With the right approach, whether using a reimbursement-friendly bank, mobile banking tools, or contactless ATMs, you can enjoy convenient access to cash without extra costs.

Choosing a bank that aligns with your spending habits and travel needs can significantly affect how much you pay for ATM usage. Whether you prefer a bank with a broad ATM network or one that reimburses fees, being strategic about your banking choices can help you avoid unnecessary withdrawal fees.

Additionally, adopting virtual wallets, fast cash options, and fee-free ATMs allows you to access your money with minimal hassle. Staying aware of your bank’s ATM policies and using locator tools to avoid out-of-network ATMs ensures you never pay more than necessary to access your funds.

Ultimately, being proactive about your ATM usage puts you in control of your finances and helps you save in the long run.

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