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Monday, October 05, 2015

Punishing Cash: US ATM Withdrawal Fees Soar To All Time High




http://www.wsj.com/articles/atm-fees-rise-toward-5-per-withdrawal-1443981841


The average cost for using an automated teller machine that isn’t tied to a customer’s bank rose to a record $4.52 per transaction over the past year, according to a survey from data provider Bankrate Inc. that will be released Monday.

In Atlanta and New York, the average “out-of-network” cost tops $5 and can rise to as much as $8 in some places under certain circumstances, Bankrate said.

The new average rate reflects an increase of 21% over the past five years.

“Someone has to pay to maintain these ATM networks, and so that burden is falling on the noncustomers,” says Greg McBride, senior financial analyst at Bankrate.




While this is not a direct capital control, it is clear that the "tax" on accessing your own money is rising rapidly, Remember cash held  in a bank is not your money until its in your hand. Besides, That stuff you keep in the banks isn't money, its currency and can barely be called that.

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