ATM fees

The Inspector

The Inspector

Member
Location
Boston (USA) Massachusetts
ATM fees

The Bank I was using is now charging an $2 ATM fees on any ATM except theirs.

So if the store ATM charges $2 and the bank will charge me $2 = $4 to get my money.

My guess is they want people to use credit cards and to keep a balance:playful:

This is not good for a budget.

So I keep a little money in two Banks and a Credit Union.
 

The Inspector said:
ATM fees

The Bank I was using is now charging an $2 ATM fees on any ATM except theirs.

So if the store ATM charges $2 and the bank will charge me $2 = $4 to get my money.

My guess is they want people to use credit cards and to keep a balance:playful:

This is not good for a budget.

So I keep a little money in two Banks and a Credit Union.
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I prefer to use credit rather than a debit card, much more secure. I never run a balance, always pay it off monthly.
 
I bank with Charles Schwab on line and when getting cash from any ATM machine that charges a fee they will reimburse me 100%.
 

My UK bank charges no fee on my ATM card when used in the UK but does when we go abroad. My US card reimburses me for fees charged at ATM's.
 
The Inspector said:
.

Use Credit for online purchases, but if I have $10 with me, I can not spend $20.

Have not got into online banking .yet
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We've been doing online banking in the UK since soon after we got married in 2000. We write a cheque about once a year - xmas money for my son's family, or to pay a holiday rental that doesn't take cards, etc.
 
Falcon said:
I never use an ATM machine. I get cash from inside the bank. No muss, no fuss....and nobody looking
over my shoulder @ the ATM.
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Easy enough to shield the number pad from those behind you. Don't you have chip and pin now when you shop?
 
Falcon said:
I never use an ATM machine. I get cash from inside the bank. No muss, no fuss....and nobody looking
over my shoulder @ the ATM.
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My shoulder is too high for someone to look over, so I don't worry. The only time I ever have muss or fuss is when I go into the bank.
 
The last few years I've just been keeping extra cash in the house so I always have some on hand. If I have a check to cash, I'll take it into the bank and take the cash home. Never go to an ATM. Use credit cards for everything and pay off balances each month. Have never had an ATM fee except years ago when I needed cash up in Nova Scotia.
 
Bobw235 said:
The last few years I've just been keeping extra cash in the house so I always have some on hand. If I have a check to cash, I'll take it into the bank and take the cash home. Never go to an ATM. Use credit cards for everything and pay off balances each month. Have never had an ATM fee except years ago when I needed cash up in Nova Scotia.
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When we go to Thailand we use cash for everything, so we visit the ATM's frequently. We even pay for the house and car rental in cash as there is no fee with cash. I prefer the ATM's inside the mall attached to a bank. I've never had anyone stand too close behind me at an ATM, not anywhere. At the stores here it's been chip and pin for many years, but most of the machines have some kind of guard around the keypad making it difficult for someone to see what numbers you are pressing. I rarely see anyone use cash except for very small purchases, but now most people have touch and go on their cards which you can use for purchases under £30. Love using that. No pin to bother with.
 
I don't even carry cash anymore. I just use my debit card for everything, or the occasional credit card which I pay off every month. Cash is just too much of a hassle anymore, and I haven't written a check in years.
 
I rarely use ATM and never at a different bank. Easier and cheaper to use debit for a small.purchse and get as much cash back as I need, which isn't much. hi
 
I do as reflection4 does. I use a debit card for purchases and if I need cash back, I get it.

I haven't used an ATM in years.
 
When I used an ATM card in Mexico, the receipt told me my bank balance in Pesos. My bank was in Arizona.

The only time I have used an ATM card outside of my own bank was when traveling. In Vancouver BC the machine would not give less than $75.
 
reflection4 said:
Also I don't want someone watching me take cash from an ATM and following me.
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I don't often use the ATM's at home as I don't use cash that often - a cup of tea at the gym cafe, etc. But I'm more careful in Thailand as I get out $500 at a time but do so from a bank ATM in a mall and then we go for coffee then shopping. I wouldn't do it in a crowded area from an ATM on the street.
 
They tried it in the UK, also charging and annual fee for credit cards.

Since not all banks adopted it, people simply changed their bank, or credit card, to one that didn't do it.

Some places with a captive clientèle, like specialist outlets in tourist centres, still make such charges, but not on the High Street.
 
Laurie said:
They tried it in the UK, also charging and annual fee for credit cards.

Since not all banks adopted it, people simply changed their bank, or credit card, to one that didn't do it.

Some places with a captive clientèle, like specialist outlets in tourist centres, still make such charges, but not on the High Street.
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We got an Emirates American Express credit card a few years ago to get extra airmiles so we could get upgrades. So we use this card for just about all purchases. We don't pay an annual fee but we should as we'd earn twice as many miles.

I was surprised at the number of places we could use American Express in Scotland. There are only a few places where I can't use it. Morrison's which is the only big supermarket in our area takes it, our petrol station, Boots, and most department stores take it.
 
Laurie said:
Actually American Express was one of the first in the UK way back with Access and Barclaycard.

They were quite selective though!
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I was surprised at the number of shops that take it, but the small shops here won't. Although our independent petrol station does.
 
Several years ago I had a bank close an a $800 balance account after telling me I just was using it for a ATM and that I was the exact customer the bank did not want. I was told to save the account I had to keep $1500 in the account at all times or have at least $5000 dollars in other business with the bank(which later went up to $15,000). When I set up the account decades earlier it was a free ATM at their locations and waived fees at others.

They're basically implying or outright saying sometimes they can't make money on people who use ATM yet by the 1990s the bank teller was going to be extinct yet today there are more banks with longer hours and tellers.

My guess is they want larger amounts of money/deposits they can invest longer term or more aggressively. Banking regulation probably state how much a bank has to set aside for withdrawals. There is probably a statistic for average daily balance vs daily withdrawals.
 
Like Lon, my pension is accessible either via debit card or paper check through a major financial investment firm. There are several banks & CU's that are members of the same group. If I have to access an ATM outside of that group then they reimburse me 100%. My CU also has a group that is free at any member branch, (something like 26,000 nationwide). I have only made the mistake once of using it at a non-member, $2 wiser now. When I take my planned trip to Las Vegas, I'll be sure to get a list of local member banks/CU incase of an emergency (loss!).
 

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