Bank of America has highest ATM fee

Hand inserting card in ATM machine

It's now charging $3 -- more than any other major bank -- for non-customers to withdraw cash from most of its automated tellers.

The new fee is being charged at grocery stores and branch banks, where about two-thirds of its machines are located. ATMs at shopping malls, convenience stores and airports are still charging $2.

Those fees are why we urge you to avoid ATMs that don't belong to your bank. A smarter way to get cash is to buy something small but essential at a store and ask for cash back. Most retailers will provide up to $50.

The most consumer-friendly checking accounts impose no fees for using another bank's ATM and reimburse you for the fees other banks impose on you. In other words, you get to use pretty much any ATM for free.

The next best deal is where your bank imposes no fees for using a so-called "foreign ATM," but won't reimburse you for the fees the owner of that machine might impose.

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