How to Avoid ATM Fees
Stumble It!
Digg It!
Tip It!
del.ico.us
FacebookHere’s a quick tip on avoiding those pesky ATM fees… If you can’t get to an in-network ATM consider asking for cash back when you make a debit card purchase. Many stores allow you to do this, and banks generally treat it as part of the purchase, so it’s a fee-free way to get your hands on some cash. Obviously, you don’t want to be penny-wise and pound-foolish, so make sure you don’t waste money on a purchase just to get ‘free’ access to your funds. Then again, with dual fees (from the ATM owner as well as your bank) now the norm, even a small unnecessary purchase could be smarter than using an out-of-network ATM.
Published on March 16th, 2007 - 9 Comments
Filed under: Banking, Frugality
email this article
- bookmark it
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
Related articles...
» Avoid Overdraft Fees With a “Balance Buffer”» Banks Reducing Overdraft Fees
» Bank Fees Increasing
» Mortgage Fees: What’s Legit and What Isn’t
» From the Archives – (March 16th – March 22nd)
» Are Fuel Related Charges Here to Stay?
» Bank Overdraft Fees at All-Time High
» Calculate Your PayPal Fees
Was this article useful? Please sign up to receive our content via e-mail:
Great deals...
Readers’ choice...
Recent articles...
- Effect of Foreclosure, Short Sale, and Bankruptcy on Your Credit Score
- DIY Garage Kayak Racks: Fast, Frugal, and Effective
- Lending Club $25 Bonus Reminder
- Coupons are a Waste?
- How to Save Money on Pet Care
- Best HSA Custodian?
- Considering a High Deductible Health Plan
- Pay Back the Homebuyer Tax Credit?
- How to Find a Good Deal
- How Much Does Your Debt Cost?
Recent comments...
- nickel: Ron: Good question, and I have no idea as to the answer. It could...
- Christina: While foreclosures wreck less havoc on the score than a bankruptcy (according to your...
- Ron: Why do you think those large mortgage lenders are switching over to Vantage? Does...
- XY: I wish they would have special checkouts for people who plan to use 5...
- Live for Improvement: Going vertical with storage is definately the way to go! You should see my garage...
- Jessica: Just do a google search and it should be pretty easy to find. ...
- Just J: I use many of these ideas weekly, we shop for a family of 6,...
- Molly: The new, expanded income limits apply only to those who purchased their home after...
Most talked about...
- Dave Ramsey is Bad at Math
- $8,000 Homebuyer Tax Credit
- Dish Network Customer Service SUCKS
- How to Claim the First-Time Homebuyer Tax Credit
- $15,000 Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- Would the "Fair Tax" Gut the Economy?
- Tax Stimulus Rebate Payments to Start Early
- Pay Off Mortgage Early? Or Invest?
- The Best Online Savings Accounts (Updated!)
- Life's Too Short to Drink Cheap Beer
- $7500 First Time Homebuyer Tax Credit
Or you could get an everbank checking account. They will refund ATM charges upto $6/mo.
Comment by Easy E — Mar 16th 2007 @ 11:09 amMy strategy involves carrying far more cards. I have accounts at two major banks in the area with tons of ATMs. I also have an ING Electric Orange account which means I get free access at Allpoint ATMs (about 30000 of those puppies). Then I’m also planning to start building a relationship with a credit union who is a member of the COOP network which has another 10000, including all 7/11 ATMS. With those four cards it will be almost impossible to not be able to access at least some of my money.
Comment by Tom — Mar 16th 2007 @ 1:19 pmI’ve been doing this for a while, even though my bank (E*Trade) refunds ATM fees as well. It means planning cash expenses a bit in advance, but I’m an old set-in-my-ways kinda guy so that isn’t hard.
Comment by Tinyhands — Mar 16th 2007 @ 1:45 pmI remember an old Rita Rudner (comedian) routine where she said she had to buy a dress so she’d have change for gum.
Comment by Karen — Mar 16th 2007 @ 2:01 pmI do it whenever we are traveling and need cash. Buy usually a soda and get cash back.
Comment by LivingAlmostLarge — Mar 16th 2007 @ 10:35 pmWhen I was in the US, I would use the strategy when I found myself a bit short of cash. Don’t think I ever purchased something just to get cash though – I could see this becoming an expensive way to get cash if you rationalized it as something you needed (because you needed cash) when you really didn’t.
Comment by Saving Advice — Mar 17th 2007 @ 10:33 pmI used to do this all the time and get some free cash back.
Buying something to get cash would be a totally different thing and I’ve never done that. Though, if pressed, I’d rather pay 50 cents for a piece of candy than 50 cents for nothing.
Comment by jim — Mar 18th 2007 @ 10:03 amSo simple yet something that is often overlooked, I mean i get cashback quite often but didn’t really give thought to how if i did it more frequently it could save on those outrageous atm fees.. thanks
Comment by creditnine.com — Mar 20th 2007 @ 8:25 pmThere are some banks that not only don’t charge and ATM Fees, but automatically refund ATM Fees charged when using other banks ATMs. One is an internet only bank called e-bank (well they do have one branch in Atlanta). In Florida we have “Great Florida Bank”. Great Floria is growing fast. I understand the urge to legislate but really, if the big players saw enough customers fleeing to these No ATM fee options the market would soon correct their bad behavior. I don’t understand why there is not more emphasis on this option. I people were more willing to change banks the problem would solve itself.
Comment by Dean Weidling — Oct 29th 2007 @ 8:01 pm