ATM Fees question

[JohnCU]

I had no choice but to go to a different bank's ATM the other night, and on the ATM it said there would be a $2 charge for foreign cards...so I got out $40, receipt said $42, and I went on. On my statement this morning, it shows an ATM withdrawal of $42, and a separate charge of $1.50. That's $3.50 in fees...how can they do that?

 

[Confused]

The bank of the ATM you used probably charged you $2, and your own bank charged you $1.50 for using another bank's ATM.

Most ATMs will say "Another bank may charge you for using this ATM" on them.


Confused

(Edit for typo)

 

[dabuddha]

^--- Yep that's correct. Wells Fargo always charges me a $2 fee for not using a Wells Fargo ATM. Sucks considering that up here on the East Coast, there are no Wells Fargo branches/ATMs. That's why I usually make a debit card purchase and get cash back.

 

[Shockwave]

i use UMB bank for the very reason that they have ATM's in Quik Trip gas stations in Kansas City. And theres a QT on about every corner.

 

[Asharus]

My bank (Commerce) doesn't charge me for using another bank's ATM, and if I can't go to my bank's ATM, I use Washington Mutual. WaMu doesn't charge for ATM usage. "The buck-fifty stops here".....

 

[GBRudy16]

gotta love the QT accepting almost all cards without a charge on the ATM's

 

[Kelemvor]

You need to get a different bank. You're getting screwed.

Most decent banks allo wyou up to a certain amount of ATM withdrawls at banks that aren't theirs and then charge you after that. Not for every one.

But I will never go to a bank that's not that one I bank with specifically to avoid the fees. They are so rediculous anyway.

 

[propellerhead]

At one time, I had an ATM card from a bank in Oklahomo but I was living in Texas. I had no choice but to pay the $1.50 each time I used the ATM. So to minimize the damage, I would get $200 each time. Or, cash a check at the base.

 

[Garet Jax]

Originally posted by: JohnCU
I had no choice but to go to a different bank's ATM the other night, and on the ATM it said there would be a $2 charge for foreign cards...so I got out $40, receipt said $42, and I went on. On my statement this morning, it shows an ATM withdrawal of $42, and a separate charge of $1.50. That's $3.50 in fees...how can they do that?

The easiest way around this to buy something from a grocery store with your debit card and then take out cash at the same time. No fees on either end.

 

[RossMAN]

Banks make MILLIONS in profits from fees alone every year.

If I want to use my ATM card, there are no ATM's around but I can still withdraw cash without incurring any fees. Can anyone tell me how I do this? It's very easy, one of you has to get it.

 

[waggy]

Originally posted by: Garet Jax

Originally posted by: JohnCU
I had no choice but to go to a different bank's ATM the other night, and on the ATM it said there would be a $2 charge for foreign cards...so I got out $40, receipt said $42, and I went on. On my statement this morning, it shows an ATM withdrawal of $42, and a separate charge of $1.50. That's $3.50 in fees...how can they do that?

The easiest way around this to buy something from a grocery store with your debit card and then take out cash at the same time. No fees on either end.

onother way is to go to say jewel or such and buy something. you can then use your ATM card and take money out. I just found this out the other night when a buddy and i went to buy beer.

 

[Jzero]

I just go to Wawa.

 

[isekii]

Best way to take out money is, purchase something at a grocery store as a debit purchase and get cash back

 

[RossMAN]

Originally posted by: isekii
Best way to take out money is, purchase something at a grocery store as a debit purchase and get cash back

FINALLY we have a winnar!

If I want to withdraw cash and need some groceries to buy I head to the nearest grocery store. Albertsons, Safeway, Fred Meyers, Vons, Wal-Mart, etc.

Buy something, pay using their POS (point of sale) machine, swipe your debit card, enter in your PIN, specify the amount of cash you want back and there's NO FEES charged to your account.

Yes it's not as convenient as using the ATM but it's better than being charged $3.50 fees on a $20 withdrawal.

 

[Jzero]

Originally posted by: RossMAN
Buy something, pay using their POS (point of sale) machine, swipe your debit card, enter in your PIN, specify the amount of cash you want back and there's NO FEES charged to your account.

This varies by bank, too, though. Some banks charge for POS purchases. Mine used to some years ago but has since stopped.

 

[RossMAN]

Originally posted by: Jzero

Originally posted by: RossMAN
Buy something, pay using their POS (point of sale) machine, swipe your debit card, enter in your PIN, specify the amount of cash you want back and there's NO FEES charged to your account.

This varies by bank, too, though. Some banks charge for POS purchases. Mine used to some years ago but has since stopped.

I have never known any major grocery chain to charge for POS transactions but it is possible.

McDonalds's and other fast food chains usually do not accept credit cards but they do accept POS provided you pay the fee (usually $0.50).

 

[SUOrangeman]

POS debit transactions cost a few cents, so I am quite thankful that most vendors don't *directly* pass that charge onto the consumer.

In any event, I'd also try to find a credit union you can use (since many of them will have some membership criteria). Most CU-to-CU transactions are free of charge, and there may even be a CU service center nearby that serves several CUs at one location.

Aside from credit card interest and a once-in-a-while out-of-network ATM fee, I can't remember the last time I paid my bank for anything.

-SUO

 

[Jzero]

Originally posted by: RossMAN

Originally posted by: Jzero

Originally posted by: RossMAN
Buy something, pay using their POS (point of sale) machine, swipe your debit card, enter in your PIN, specify the amount of cash you want back and there's NO FEES charged to your account.

This varies by bank, too, though. Some banks charge for POS purchases. Mine used to some years ago but has since stopped.

I have never known any major grocery chain to charge for POS transactions but it is possible.

McDonalds's and other fast food chains usually do not accept credit cards but they do accept POS provided you pay the fee (usually $0.50).

It was the bank doing the charging, not the grocery store...

 

[Shockwave]

The easiest way I've found to not incur ATM withdrawls..... I cant remember my PIN number.
It makes for NO cash withdrawl fees, as I cant use the card for anything but a CC. However, it does make taking out cash a bit difficult.....:disgust:

 

[dullard]

I never use ATMs due to the wide array of fees that you may likely receive. The day I was first offered an ATM was the day my bank started charging $1 to print the ATM receipt. I declined the ATM card.

1) I have a bank which is on the way from my home to everywhere - so it is just as convenient as an ATM. I then go inside (most banks are now empty inside due to ATMs and there is never a line, while there may be a long line for drive-up). Thus it is quicker for me to use the bank than an ATM (ATM lines around here can be up to 15 minutes long).
2) I withdraw enough cash to last me 2-3 months (~$100). I need to go to the bank in person anyways about that often, so I never go out of my way.
3) I pay with a CC for everything. Thus cash really isn't a need.

ATMs are probably banks #1 fastest growing source of income. People get suckered into paying these fees all the time. And the fees keep changing - making it difficult to know if you'll pay one or not. Instead a simple lifestyle change can make ATM use a non-issue. Guaranteed free banking then...

 

[Don Vito Corleone]

USAA not only does not impose a charge for using other banks' ATMs, they refund the other banks' fees for up to 10 withdrawals per month! Just one more reason I am a customer for life . . .

 

[KingNothing]

Originally posted by: RossMAN

Originally posted by: isekii
Best way to take out money is, purchase something at a grocery store as a debit purchase and get cash back

FINALLY we have a winnar!

If I want to withdraw cash and need some groceries to buy I head to the nearest grocery store. Albertsons, Safeway, Fred Meyers, Vons, Wal-Mart, etc.

Buy something, pay using their POS (point of sale) machine, swipe your debit card, enter in your PIN, specify the amount of cash you want back and there's NO FEES charged to your account.

Yes it's not as convenient as using the ATM but it's better than being charged $3.50 fees on a $20 withdrawal.

Or...you could bank somewhere that gives you a few free ATM withdrawals. When I use a foreign ATM, the amount of the withdrawal appears on my account as a separate charge, and then right below it there's an "ATM Reverse Charge" credit that negates the charge. I only get 4 per month, but that's 1 a week, and I generally only go to the ATM once or twice a month anyway.

 

[rh71]

Washington Mutual rules. Though I can't really take advantage of the no charge since I'm already a customer. It doesn't really "benefit" me.

 

[MacBaine]

Originally posted by: Don_Vito
USAA not only does not impose a charge for using other banks' ATMs, they refund the other banks' fees for up to 10 withdrawals per month! Just one more reason I am a customer for life . . .

First Internet Bank of Indiana has a similar system where they will refund up to $x a month in fees incurred.

 

[SUOrangeman]

USAA has some sweet offerings. Unfortunately, I don't think I apply to any of the membership criteria.

-SUO