According to the study, more institutions are surcharging non-customers, and charging more, for use of their ATMs. This is an increase in the number of institutions requiring these high surcharges from 49 percent in October 1999 and 44 percent a year ago.
Surcharges are more prevalent now and are hitting consumers even harder than before.
Greg McBride, Financial Analyst for Bankrate Inc., is available to discuss the customer ramifications of the study. A large research team surveys some 4,000 financial institutions every week in order to provide objective rate information on banking products including mortgages, credit cards and auto loans. Bankrate Inc. , features original content that deals with financial planning, taxes, insurance, investing and banking. The company's original research is also distributed through more than 120 national and state publications. Bankrate Inc. sites have approximately one million unique visitors per month, according to Media Metrix.