Bank ATM fees are going up - page 2.

hilariousandco

global moderator

Activity: 3850

Merit: 2643

Join the world-leading crypto sportsbook NOW!

Quote

A customer is slapped with fees when they use an ATM that's not owned by their bank, and those fees jumped 5% in the past year, according to Bankrate.

Don't use ATMs that are not owned by your bank then, and don't spend money you don't have by going into your overdraft. Pretty much most ATMs in the UK are free anyway, and it's rare that you'll be charged but they state that they charge you before you even put your card in so if I come across one I'll just find another.

Traffic4u

full member

Activity: 168

Merit: 100

Quote from: countryfree on September 29, 2014, 06:09:02 PM

Highest charges are for people who withdraw more money than they actually have in their account. You can't even do that with BTC. And paying extra charges when withdrawing money from a bank which isn't your bank isn't new, you just need to be smart. I'm in Europe right now in a country where I will never withdraw any cash because that would call for a high charge, so I'll just wait till I'm moving away. Banks aren't so bad, but you have to be organized.

This is not what is reflected in ATM fees. You are referring to overall banking costs. The article in the OP is discussing only the direct cost associated with using an ATM. Most of these fees are fees that you will pay for using another bank's ATM. For example if you want to use your ATM card that is issued by bank "A" at bank "B"'s ATM then bank "B" will likely charge a fee because you are using their ATM and needs to take on some level of risk for disbursing cash on another bank's account. Bank "A" will also charge a fee because of the added expense to use the other bank's ATM network.

The best way to avoid fees while using an ATM is to only use the same brand ATM that you have a bank account at (and that issued your ATM/debit card)

JLynn171

sr. member

Activity: 406

Merit: 250

Bank fee's late are crazy with amount they charge for withdraws transfers overdrafts late fee's fee's ya never even heard of but they made it and are still doing fine i think they will continue

Rishblitz

full member

Activity: 308

Merit: 100

I'm nothing without GOD

The banks seem to be a bigger threat to themselves than bitcoin.

onezerobit

member

Activity: 112

Merit: 10

Well this was bound to happen....that is why i use the network ATM's. just wondering when will the banks start taking fees on their network ATM's as well.

a447513372

sr. member

Activity: 336

Merit: 250

DLISK - Next Generation Coin

Quote from: countryfree on September 29, 2014, 06:09:02 PM

Highest charges are for people who withdraw more money than they actually have in their account. You can't even do that with BTC. And paying extra charges when withdrawing money from a bank which isn't your bank isn't new, you just need to be smart. I'm in Europe right now in a country where I will never withdraw any cash because that would call for a high charge, so I'll just wait till I'm moving away. Banks aren't so bad, but you have to be organized.

This is true. IMO the majority of the ATM related fees have something to do with accessing money that you do not have. People are stupid and greedy and will agree to pay crazy fees so they can spend money they do not have yet

countryfree

legendary

Activity: 3052

Merit: 1047

Your country may be your worst enemy

Highest charges are for people who withdraw more money than they actually have in their account. You can't even do that with BTC. And paying extra charges when withdrawing money from a bank which isn't your bank isn't new, you just need to be smart. I'm in Europe right now in a country where I will never withdraw any cash because that would call for a high charge, so I'll just wait till I'm moving away. Banks aren't so bad, but you have to be organized.

RawDog

legendary

Activity: 1596

Merit: 1026

This is good for bitcoin...
http://money.cnn.com/2014/09/29/pf/atm-fees-rise/index.html?hpt=hp_t2

The more banks screw their customers, the more bitcoin has to offer.

Topic: Bank ATM fees are going up - page 2. (Read 2252 times)