An automated teller machine (ATM) that does not impose a usage fee by the machine’s owner to customers who are not also customers of that financial institution provides access to cash without incurring such charges. For instance, an individual banking with Institution A can withdraw funds from an ATM owned by Institution B and not be subjected to an additional fee levied by Institution B for the transaction. This contrasts with standard ATMs, which typically assess a surcharge to non-customers.
The absence of these fees presents a distinct advantage for individuals seeking convenient cash access without the added cost. This can lead to considerable savings over time, especially for those who frequently use ATMs outside of their primary bank’s network. Historically, the prevalence of these arrangements has varied depending on banking regulations, market competition, and cooperative agreements between financial institutions, such as participation in shared ATM networks.
