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Data for today’s episode is provided by Mercator Advisory Group’s Report: North American PaymentsInsights, U.S.: Data Summary Report; ATM Usage and Preferences
U.S. Consumers’ Attitudes Toward ATM Surcharges by Household Income Level:
- Consumers from high income households ($100K+) are the most likely of any income group to actively seek out ATMs that are in surcharge-free networks.
- 64% of individuals from households earning $100K+ actively seek out ATMs in surcharge-free networks, versus 56% of individuals from households earning under $100K.
- Individuals from households earning $100K+ are about equally as likely (74%) to do anything they can to avoid paying surcharges as those from households earning under $100k (75%).
- Consumers from high income households are more likely to not pay ATM surcharges because their bank reimburses them ATM fees.
- 41% of individuals from households earning $100K+ get their ATM fees reimbursed by their bank.
- In comparison, just 26% of individuals from households earning less than $100K get their ATM fees reimbursed by their bank.
About Report
Mercator Advisory Group’s most recent report, North American PaymentsInsights, U.S.: Data Summary Report; ATM Usage and Preferences documents consumers’ current usage metrics of ATMs in the U.S. national market. The survey of 3,000 U.S. adults (December 2020) represents a continuation of a series of consumer and business surveys conducted annually by Mercator Advisory Group since 2009.
This Data Summary Report presents the survey results for U.S. consumers’ use of ATMs, through commonly-used graphs with core demographic breakdowns, for easy incorporation in planning/analysis documents. This is just one of multiple Data Summary and Analysis Reports on the United States for program subscribers from this survey, on topics including Buy Now, Pay Later lending, bill payment, subscription buying, fraud experiences, and effects of the COVID-19 pandemic.
“These survey results provide up-to-date baseline data for financial institutions and other stakeholders serving the U.S. market,” stated Amy Dunckelmann, Vice President, Research Operations at Mercator Advisory Group. “The U.S. continues as a dynamic market for the ATM industry.”
