Avoiding ATM fees
Jim, the author of Blueprint for Financial Prosperity, posted today on avoiding ATM fees. Like Jim, we belong to a credit union with an inadequate supply of ATMs. While our credit union doesn't charge us for using a "foreign" ATM and even credits us back up to $5/month in other bank's fees, I try to avoid incurring them to begin with. I commented on the post with my two favorite strategies for avoiding ATM fees, but I thought I'd also share them here:
1) Get cash back when using your debit card at grocery stores, post offices, even Home Depot!
2) Look for fee-free ATMs on this website.
This post also linked to an CNN/Money article about ATM fees reaching a record high--between your bank and the one that owns the ATM, you'll be hit with an average of $2.91 in fees. That's just ridiculous.
posted by SMB @ 4:12 PM
3 Comments:
SMB,
Thanks for the link and the tips!
I've paid $4.00 before, $1.50 + $2.50. Can anybody explain why the banking industry is so slow to implement new technology?
I know when talking cost, their batch systems beat the hell out of online (not web) systems, but come on, why would you charge $4.00 for subtracting one number from one account balance?
Also, I don't understand why it takes my bank 3-4 days to deposit CASH into my checking.
Whew.
My question is: am I the only person who doesn't use cash anymore? Practically everywhere (except some clubs and farmers markets) takes debit /credit cards that draw from your checking account. Plus, if you lose it, you just cancel it.
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