Comments on: Question of the Day – ATM Usage

By: sam

sam — Thu, 20 Sep 2007 19:50:00 +0000

I use the ATM about 2 or three times a month – almost always from my own bank (Wells Fargo)- and won’t use a non-network ATM except in a crunch. My peeve is not when the ATM owner charges a fee, after all they have to buy the machine, load it with money, maintain it, etc. (Although BOA’s $3 is excessive.) My gripe is when my own bank charges me a fee to use someone else’s ATM – for what is a totally electronic transaction.

I agree with other commenters about getting cash back from retailers. Almost all big grocery, discount, drug chains that I have been in will let you do this for no charge at all.

By: Baz L

Baz L — Tue, 18 Sep 2007 22:33:43 +0000

Cash only for coins when I need laundry and other misc tasks. But when I do, I go out of my way to find a Wellsfargo somewhere.

I think I may consider opening an account with that bank in Walmart (what ever their name is).

By: Stacey

Stacey — Tue, 18 Sep 2007 17:42:16 +0000

Husband uses ATMS much more than I b/c of business travel out of pocket stuff. I’m a firm believer in my Citibank Upromise for everything…yes, even $3 at McDonald’s. However, after 17 years, I can gleefully state he is trained to only use our Harris network. He’ll incur my wrath if he doesn’t comply

Here’s a hint if you’re out of town and your bank doesn’t have branches there: go to the Post Office. You can use your debit card and get cash back. Ditto for most grocery stores.

By: Michelle

Michelle — Mon, 17 Sep 2007 12:43:01 +0000

While I say I won’t pay $3 to BOA to use their ATM, I’m sure at some point I will. It’s a convenience fee. I think the most important thing to think about is how much you’re taking out in comparison to the fee your spending. If you’re taking out $50 and get charged $3 for it, you just paid a 6% convenience fee to BOA. If your bank also charges you a fee like my bank does, tack that on. My bank charges $1.50 to use another banks ATM. That would be a total of $4.50 I’ll get charged for the convenience of using BOA’s ATM for $50. That’s a 9% charge for the convenience $50.

As a customer of another bank, BOA owes me nothing. There are banks that will reimburse you for the ATM fees that other banks charge you. I’m a USAA member. It’s an financial institution for family members of military veterans. They will reimburse you for Bank ATM fees. I think Washington Mutual will do the same. If the fees really bother you, try to find a better solution. There was a time when we didn’t have ATMs at all and people survived.

By: Kev K

Kev K — Sun, 16 Sep 2007 16:11:48 +0000

I use RBC here in Canada. I’m not sure how it works elswhere but here I get charged $1.50 from the bank the ATM belongs to and $1.50 from my bank. Yup, $3.00 is too much. Obviously I don’t use other ATMs if I can help it but sometimes it’s seems unavoidable.

By: JimmyDaGeek

JimmyDaGeek — Sat, 15 Sep 2007 12:40:49 +0000

Our nanny government is again worried about their incompetent citizens that refuse to read and are ready to blame everyone else for their misfortunes. Many people complain about the trouble it is to look around and change accounts. Fine! Let BofA charge what ever they want, as long as they tell us ahead of time.

I only use my bank’s ATMs and don’t carry much cash, so none of this affects me. Otherwise, I would be looking for no-fee ATMs and using accounts that refund my fees.

By: bluntmoney

bluntmoney — Sat, 15 Sep 2007 02:14:30 +0000

I use ATMs maybe once or twice a month if I have a small check to deposit. I prefer to go into the bank itself most of the time though.

By: Cindy

Cindy — Fri, 14 Sep 2007 18:46:58 +0000

I am like #1 and #11 above that my bank (USAA) refunds other bank’s silly ATM fees, and doesn’t charge me a fee for using them.

That answers Esmo (#10) above, why I use out-of-network ATMs. In our cases, using any network’s ATM does not cost us a cent. Really handy especially when you are traveling.

The BofA development is angering… I think I’ll avoid BofA on principle now even though those three dollars will be refunded to me.

By: MSMomsmoney

MSMomsmoney — Fri, 14 Sep 2007 18:05:24 +0000

I rarely use my bank’s ATM.

Maybe once a month if that. I rarely have cash though.

I’ve only used an out of network ATM if it’s been a real emergency, lets say less than once a year.

Bank of America’s fees are ridiculous.

By: SavingWithMe

SavingWithMe — Fri, 14 Sep 2007 18:02:15 +0000

I use ATMs when I need to get cash out which is probably once or twice a month. I never carry cash so I am almost always scrambling when I have to give cash tips for valet, airport luggage handlers, etc. I have tried to better prepare by having like five dollar bills in my car at all times. I use USAA for banking and they refund up to I think $15 for ATM fees monthly. I have not paid an ATM fee in forever, without getting it refunded.