$20 withdrew from ATM-- $2.00 fee- crazy!

[Conversationist]

I just withdrew some money from the ATM (Automatic Teller Machine). I usually pull out $200 at a time using an ATM connected with my bank, so there is no fee.

On top of the ATM was about 20 receipts left from other customers. Just out of curiousity- I looked at the discarded receipts. Nearly everyone paid a $2.00 fee for using the machine and only got out $20 or $40 in cash out. THIS IS CRAZY! These people must pay $100s in ATM fees a year.

Why dont they: ??

Use an ATM connected with their bank

Or take out more each time, so the fee as a ratio of withdrawal and cost would be less.

Tell us about your ATM withdrawal habits.

 

[Missy1961]

I only use an ATM connected with my bank. I hate those darn fees. If I'm not able to use my bank's ATMs, I'll go to the supermarket, buy some milk or something else that I need and use my ATM card as a debit card and get some money back. At least that way, I'm getting something for the $1 or $2!

 

[DisneyAddict_M]

I paid a $2.50 fee once, but that's because I was at the beach before I realized I had no cash on me (that was the only ATM around). I hate paying fees and I know which banks don't have them. But I will pay a fee for convenience. Like the bank near my house has a $1.75 fee, but I can take out $10 instead of $20, which seems to be the norm around here. Sometimes I don't want to take that much out and the ATM is a drive-up. If I have my dd with me, it's easier to drive up than to take her out of the car to go to the ATM.

 

[Tigger_Magic]

I refuse to use another bank's ATM. I will drive to my bank's ATM to avoid paying a fee or if I am short on cash, I'll use a debit or credit card. I've seen charges of up to $2.50 per transaction, which is absurd. But I watch co-workers get cash and pay these fees all the time. Hmm... they must be making a lot more than I do!

 

[psmomma]

I see that as wasting money and wont pay the fee. I live & work close to our bank, so it really is never a problem.

 

[stinkerbelle]

I RARELY go to an ATM.

I don't usually carry cash on me (just enough for coffee during the week)...so when I buy groceries - I'll get "cash back" on my debit card.

I've never paid a "fee" for withdrawing...as I only hit 2 ATM's when I need to anyway - one at the mall, one around the corner from my office. heheh

 

[IMGONNABE40!]

This is part of the reason DH and I gave up ATM's altogether. I think we have saved a bunch of $$, not just on fees, but also on the fact that we don't have cash in an instant at our diaposal.

 

[Chicago526]

My bank is a single branch, local bank so they don't have other ATM's that I can use. If I'm not driving right by the bank when I need $$$, then I have to go out of my way to go there for a withdrawl. That said, because of this, my bank doesn't charge me to use another banks ATM, so I only pay the ATM's fee, I don't get double hit with charges. I also try to take out as much cash as I think I'll need so I don't use them that often, or I get cash back at Target when I make a purchase, no fee for that at all!

 

[JennyMominRI]

My bank is Navy Federal Credit Union and they are few and far between.The closest one is a half an hour away in Newport..I try to pull out large amounts at once,but I'm not driving to newport to pull out money

 

[Chip 'n Dale Express]

This is why I *LOVE* my bank. Actually, technically speaking, its a credit union. At any rate, no matter where I get my money, they will REFUND me any ATM surcharges that other banks charge me (up to $5 per month). Oh, and they have zero fees for anything... well, except NSF.

 

[CEDmom]

I just withdrew some money from the ATM (Automatic Teller Machine). I usually pull out $200 at a time using an ATM connected with my bank, so there is no fee.

On top of the ATM was about 20 receipts left from other customers. Just out of curiousity- I looked at the discarded receipts. Nearly everyone paid a $2.00 fee for using the machine and only got out $20 or $40 in cash out. THIS IS CRAZY! These people must pay $100s in ATM fees a year.

Why dont they: ??

Use an ATM connected with their bank

Or take out more each time, so the fee as a ratio of withdrawal and cost would be less.

Tell us about your ATM withdrawal habits.

Maybe like you this wasn't their normal habit . I usually take $ out at work and don't pay a fee but occasionally I'll use the machine at Costco and pay the 75 cent fee.

 

[ely3857]

Hello

Here in the UK a customer from any bank can use any machine that is bank owned (regardless of wether it is owned by thier own bank) free of charge.

HOWEVER...

There are tons of atm's available that are not bank owned but 'stand alone' machines managed by anybody who can find a place to plonk one down. These machines do charge a fee - anything between £1.00 & £2.50. Me & DF used one of these machines on Sunday but it was an emergancy (I needed to use the loo in the pub that this atm was located so we had to get money to buy a drink!)



Jodie

 

[delilah]

I used to use a local bank, but, there were only allowed 3 transactions per month before there would be a service charge. This included using the pin number at the store or using at a different bank's ATM. So, I changed banks to one that has branches all over the country. It is not perfect, but, at least, I am not paying an extra $2 per transaction.

 

[FeFeMJ]

I have Navy Federal and don't really use ATM's very often. They do have alot of free atms in my area through their co-op system, but the checking account I have lets me get up to $10 back a month in those fees.

I usually use my debit card for everything so I don't have to have cash lying around.

Felicia

 

[LuvCuteBoys]

Banks are NOT non-profit organizations!! If you don't have an account at that particular bank, why should they provide a free service to you if they aren't getting anything out of it? Their shareholders probably wouldn't be real happy!

I always find it odd that people complain about bank fees, but nobody would be angry if you walked into a grocery store and were expected to pay for the loaf of bread you walked out with.



That being said... the people using that particular ATM may have only had $50 in the account.

Or they could have been traveling and didn't have their own bank close by.

Or they might be set up with an account that reimburses the fees from other banks.

Or maybe the cost of their time is worth the fee.

 

[Shadow Dancer]

I have Navy Federal and don't really use ATM's very often. They do have alot of free atms in my area through their co-op system, but the checking account I have lets me get up to $10 back a month in those fees.

I usually use my debit card for everything so I don't have to have cash lying around.

Felicia

How on earth did you find a thread that is over 4 years old? And it's your first post, too.

 

[LuvCuteBoys]

Oh wow... I never would have noticed that! LOL!

 

[JR6ooo4]

It costs us a ton to be able to take credit cards at our office, so we have stopped.

I like the deal at the hot dog places. they do not take credit cards (and lose whatever percentage). But they have a cash machine onsite, that only takes a $2 fee. SO instead of losing money they are making more. just for buying a cash machine and stocking it. or leasing one.

Mikeeee

 

[Nie0214]

Welcome to 2009 and lazy America?

I once saw a woman use a debit card at an ATM that was for a bank that had an ATM a quarter of a mile down the street (like a 4 min walk). She took the $2 charge even though I told her she could find an ATM at the other corner. She probably got charged another $1 from her bank for using a foreign ATM too.

I'll only eat the fee if I need cash while on vacation since I don't want to travel with a bunch of cash.

 

[princess momma]

There's no way I need to carry $200 cash around, so on the rare occasion I need to use the ATM I will use the closest one. I'm not driving out of my way to save $2. My time is worth more than that.

I do not pay $100's per year in ATM fees. It's pretty simple to get a little cash back at the grocery store or gas station without paying a fee, and most people don't carry a lot of cash anymore.

I find it more than a little strange that someone would be rifling through other peoples receipts.