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Chase Tests $5 ATM Fee

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Bank customers could face $5 ATM fees.

In Illinois, JPMorgan Chase is testing $5 fees for non-customers, in Texas, it's $4. If the trial runs make enough money, the fees could be rolled out nationwide, the Wall Street Journal reports.

HSBC has already hiked rates, charging all non-customers $3 for using the banks' machines. TD Bank, and PNC Bank are now charging their own own customers $2 for using out-of-network ATMs, unless they sign up for accounts with monthly fees as high as $25, the paper reports.

Faced with losing billions of dollars in revenue once new regulations limiting debit card and overdraft charges kick in as part of the Dodd-Frank financial reform bill, banks are looking for new ways to make money. The same scramble led Chase to consider a $50 spending limit for debit cards.

Banks are increasingly charging both for using their ATMs if you're not a customer, and using another banks machines if you are. Banks made $7.1 billion from ATM fees last year, the WSJ reports, $3 billion from charging their own customers for using out-of-network ATMs.

"It's easy to compare debit cards by looking at the monthly fee, so banks are going to try to minimize the monthly fees and load you with fees in different ways -- and ATM fees are going to become one of the most popular ways to do that," Odysseas Papadimitriou, CEO of CardHub.com told CNNMoney.

Banks justify charging you to get hold of your own money with claims that ATM networks are expensive to build and maintain. But, the WSJ reports, most of the 425,000 ATMs in the U.S. are not owned by banks, they're owned by the companies who place terminals in delis, bars and casinos.

Around the Web

ATM Fees Heading Higher - SmartMoney.com

It's Coming: The $5 ATM Fee - Deal Journal - WSJ

$3 ATM Fees? Banks Increase the Price of Your Money - ABC News

Consumer Pain: Banks Tack On $5 ATM Fees