No ATM Withdrawal Fees for Stearns Bank Customers Nationwide

Stearns Bank customers now enjoy no ATM withdrawal fees for any ATM they use nationwide—expanding access to fee-free, unlimited use of ATMs

St. Cloud, MN (December 23, 2024)—Stearns Bank announced that effective immediately, it is waiving ATM fees for its nationwide deposit customers. By waiving ATM withdrawal and service fees, Stearns Bank deposit account customers can use any ATM across the country free of fees, allowing them to access and withdraw their hard-earned cash with no fees anytime. Stearns Bank’s unlimited ATM fee waiver policy applies to all Stearns Bank deposit account customers, and, unlike other banks’ ATM fee waiver offerings, Stearns Bank has no minimum balance requirements and is not limited to select deposit account types.

"We are wholeheartedly committed to increasing access to affordable, free banking services and to the financial success of our more than 35,000 nationwide customers. Many who do business and travel across the country, live and work in rural communities, or are also global and mobile. We know our customers work hard for their money and believe they should have free, convenient access to their funds wherever they travel and do business," said Kelly Skalicky, President & CEO of Stearns Bank. "While many mega big-box banks tout a ‘network’ of their bank-branded ATMs or others join ATM networks to provide fee-free or low-fee access to a limited number of ATMs, many customers are forced to hunt for those specific in-network ATMs to avoid additional service fees. At Stearns Bank, we’re leading the way with a revolutionary no-fee, unlimited ATM withdrawal and service policy—giving our customers unlimited fee-free access to their cash 24/7."

While Stearns Bank has long been a member of the MoneyPass Network, which has provided customers free use of more than 40,000 ATMs nationwide, the Bank is now expanding fee-free access to any and all domestic ATMs. Stearns Bank’s waiving of ATM use fees for its customers across the country reinforces the Bank’s commitment to expanding affordable access to banking and strengthening the financial well-being of its customers.

Stearns Bank’s latest ATM fee policy change goes into effect at a time when Bankrate reported that this year alone, the national average of combined out-of-network ATM fees is now $4.77, up from $4.73 in 2023. Additionally, among the metro areas Bankrate surveyed in 2024, it found that Atlanta had the highest combined average ATM fees at $5.33, followed by San Diego and Phoenix tied for the second highest average combined ATM fees at $5.22. Moreover, studies have shown that Black and Hispanic Americans pay twice as much in bank and ATM fees, underscoring the need to remove unnecessary ATM service fees and create a more inclusive financial services ecosystem.

While some financial services institutions may charge additional fees for using their bank-branded ATMs, on top of ATM-owner fees, Stearns Bank will waive all related fees for their customers at any and all ATMs across the country. As a result, Stearns Bank customers will not incur any ATM-related service fees, charges, or penalties on their monthly deposit account statements. Additionally, Stearns Bank customers can use the Bank’s real-time, ATM locator tool to find and use any ATM across the nation fee-free.

Stearns Bank prides itself in being a national financial services partner that provides customizable, easily accessible, and innovative banking solutions for customers, entrepreneurs, small business, and local communities. To learn more about the innovative banking solutions and tools available at Stearns Bank, visit: www.StearnsBank.com.

For additional information on the ATM policy change, please read our customer FAQ here. 

About Stearns Bank N.A.
Minnesota-based Stearns Bank National Association is a $3.2 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide. Recognized as having a bullet-proof balance sheet with 25% capital and earning top rankings as one of the nation’s highest-performing banks by American Banker, and most recently ranked fourth in the U.S. among banks having more than $1 billion in assets by Independent Banker’s 2023 Best of the Best ranking of banks with the highest 3-year average Return on Assets, Stearns Bank specializes in nationwide commercial construction lending, USDA and SBA lending, and small business and equipment financing. For more information, visit StearnsBank.com.

Media Contact
Armando Diaz
Armando.Diaz@StearnsBank.com
C: 561-729-6091