Breaking the bank: ATM fees

I don’t know who this Betty from Bank of A is, but we have been with B of A for years. We have never bounced checks, have an 817 FICO, Have a large B of A credit limit and always keep an extra $5,000 in checking and we still have to pay $3.00 for all ATM withdrawls. So that excuse about the fee is charged on all non-customers only is crap.

I think the fees are outragous. I was paying no fees and then I find out B of A started charging $3.00 per withdrawl. Then I found out Publix Market started charging the same fees. Here I am being charged to take out my money to be charged to buy food
at the same store I am withdrawling it from. I found this article while looking for another bank to open a checking and savings acct. that won’t charge.

ATM fees are not bad enough- Now its point of sale fees added to purchases without your knowledge. That is called thievery, robbery, criminal and just plain wrong.If you came into my house and took money from my wallet you would end up with a severe case of lead poisoning-Where do merchants and banks get off stealing from customers? If I picked up your wallet without telling you and took a dollar out what would you say? You would scream your lungs out calling “THIEF!”

I suggest to plan ahead and to use cash back in the stores that allow it.

Bank fees are excessive. Some banks need a humbling experience, like having the plug pulled on all the stimulus money they are receiving. Seems like those are the ones charging excessive fees. I am changing all our accounts to banks that refund fees. At least some banks have an account that gives that option.

Wells Fargo: I demanded my 100K from them immediately when they refused to let me deposit a $25.00 third-party check.

Bank Of America (not): I won’t use their ATMs. I’d rather go to a store and buy an apple and get cash back.

WaMu: great place to bank. Super people.

First Republic Bank; superb bank. I’ve moved everything to that bank. They’re fantastic.

The moral of the story: you have a choice people. Use it and win.

Simple.

I have a BofA account. I’m considering leaving because of past issues and the ever increasing fees that continue to creep in. Credit unions are much friendlier and cost much less. ATM’s should be free for everyone. Goodbye
B of A.

It is a rare thing that I even carry cash, so ATM charges are of little consequence. I have a WaMu checking account that pays 3 cents for every debit card transaction, and I just assume that takes care of all of the times that I may need to ever withdraw money from a non-WaMu ATM.

Switch to Washington Mutual (WAMU). No ATM fees and no monthly account fees. Free wire transfers too if you need them.

I agree that various bank fees are getting bad…but the way around that is to do like I am doing (and I am a BANK OF AMERICA) customer.

I have a mortgage,Visa, & Chking with BankofAmerica and I never get charged for fees because I am a ‘advantage’ customer (as anybody who has sufficent $$ or mortgage) in the bank will get those & other services free.

I relize most fees are for the non-customers…But I could care less about them.

I havent paid these kind of fees in 15 years.

I do get hit with credit card stuff but thats a different story.

B of A’s surcharge is excessive. Where I live in Salem MA, the nearest B of A ATM is a 20 minute walk away. Five minutes down the street is an ATM @ Dunkin’ Donuts but there are fees. The banking industry is a monopoly and they can afford the lawyers and have the lobbiests. Screw the consumer… the American retail way. The excuse given by B of A:

BofA spokeswoman Betty Reese said the higher fee, which only applies to non-customers, is designed to improve access and convenience for its account holders using ATMs at its branches – reducing traffic to cash machines.

This is a load of crap. It is just taxation without representation. Wake up America.

I travel a lot, so I need to use ATM’s and sometimes there are none from my bank available. But the fee is the same no matter how much you withdraw, so the larger the withdrawal, the smaller the percentage actually is. A $3.00 fee is 15% of a $20.00 withdrawal, but it is only 3% if you withdraw $100.00, and 1.5% if you withdraw $200.00. So making less frequent, larger withdrawals makes sense, and is well worth the convenience.

Yet another news story on how you shouldn’t be responsible. Everyone in the world knows if you don’t use your own bank you get hit with a fee. Plan accordingly. And if you have an emergency, just pay the fee and plan accordingly so you don’t have an emergency.

Of course, ATM fees are outrageous.
BANK OF AMERICA has always been among the worst banks for surcharges.
Minimum deposits established by any
bank should eliminate any surcharge.
Overdraft “protection” is another SCAM
by most banks. Federal Regulators: -
step up and protect the consumer.

When I was in college back in the 1990s, on campus I was charged an average of $2-$3 per ATM transaction. My bank was in my hometown, so there was no lobby option. When I spent my junior year abroad, I was traveling in a rural village in Greece used the local ATM for free!?! Why should an international transaction be free and domestic one cost more than the national average?

well the way I see, plan ahead anddont spend unwisely… get out what you need for the week,, at your bank ,mind you and dont buy extras all the time… we live in a “I want it now,” society, sowe willpay the price,.

I was in the need of $20 and had to run to the nearest ATM at Commerce Bank. The fee was $2.50. When you stop and think about it, that’s a fee of higher than 10% on the money. How about having the banks post a large sign in front of the bank posting their atm fee (like gas stations) so people can shop around?

not only do i dislike bank surcharges….I hate Banks altogether…..all they are is a huge monopoly out there to ripe off people and take their money

TIRED OF ATM FEES? Why not try Fidelity’s mySmart Cash Account? Fidelity has recently established this account to make it easy for everybody. The account reimburses ATM fees so no more paying the high fees, interest bearing account, and a capability of easily moving $ between a brokerage account. I think this is the way to go and prevents all of those complaints that BOA has created.

The banks are collaborating with each other, so there is no way to avoid fees. The latest scam is by NewAlliance Bank in Conneticut, if you have a pos transaction it cost you .35 per transaction to use your own money. I figured they have my money, they use my money, why should I have to pay to use my money. I should be able to charge them for using my money. the interests provided on my account is not that great, I should have the right to place a fee on the bank for utilizing my money. I do have a questions What is the difference between a pos and a straight cash withdrawl why is it .35 for a pos and 1.75 for a cash withdrawl.

Yes, banks are greedy, why are we so shocked by that? Money lenders have always been greedy and EVERY coporation is driven by the need to increase shareholder profits any way they can. So instead of complaining, take charge of your own finances. If you see a better deal, take it. If you dont, you pay the price. Bottom line is that you are responsible, not the bank you do business with.

Here people are griping about something they complete controlover, again. Just don’t use an ATM that charges you a fee. Good gosh, can’t anyone take some controlover his or her life?

I don’t think I’ve paid an ATM fee in years although I use the ATM regularly. I also don’t pay interest on credit cards, although I use them. It is so easy, just figure out how to use the system and then use it.

There are some land based banks that give back all ATM fees, regardless of how much money you maintain in the account. One of these is MI Bank, which is conveniently left out of the article.

Unlike most people, I absolutely LOVE ATM fees, and here’s why.

I lived in London for almost two years. At that time (I think it may have changed now), banks were not permitted to charge ATM fees. What was the result? Almost half the time I’d hit an ATM for cash, it would be out of service. As the banks had little incentive to maintain the ATMs, they simply neglected them to the point where it was difficult to find one that worked.

Here in the US, I rarely if ever see an out-of-service ATM. I can use my own bank’s ATM if I want to, and not pay a fee. Or, if I’m a real cheapskate, I’ll wait and get cash from a teller.

Oh, and another thing — high ATM fees at my bank keep non-customers from forcing me to wait in a longer line, which is an added plus.

2 sides to every story.
All banks had to upgrade US ATMs to Triple-DES encryption between the Keyboard and the main unit. That cost lots of $$. Independant ATM companies or overseas ATM machines were not given this mandate. Go figure. So you are paying more for this security in the US at a Bank/CU ATM.
All Banks need to pay employees to maintain each unit – the money doesn’t appear magically. Each employee expects raises, while health-care INSURANCE costs go up dramatically higher than inflation (Actual costs are not increasing at this phenominal rate).
Banks still provide the ATM service free to THEIR customers.
Fraud, peering arrangments, etc, all cost $$, and if you are not a player with the home team, you have to pay.

Consumers: Use YOUR bank’s ATM and these charges usually won’t apply. See if your bank has an arrangment with SUM or one of the other peer ATM groups and use only these ATM’s. Using the card as a debit card could be problematic – The bank is only on the hook for $50.- if fraud is committed against you.

Bank ATM fees are outrageously high and I use them when I have to. I belong to a credit union where I pay no fee. If you use an ATM at an Indian Casino, you pay $4.00. How’s that for high. How’s this for low: A year ago while on a cruise vacation, I needed some money so I used an ATM in Puerto Vallarta and agreed to the fee since I was out of cash. I read the fee charge and figured the usual $2.00. When I got home and later checked by statement, lo and behold, I paid $.20 for the withdrawal. Twenty cents! And I’m sure the bank still made some money. I mentioned this to my credit union and left them speechless. Just goes to show how fees are all different.

I recall that ATM’s were introduced PRIMARILY to LOWER COSTS for banking institutions and INCREASE CUSTOMER SERVICE at the same time. ATM surcharges are contrary to the latter, and instead of lowering costs, now they have become a tremendous CASH COW!! I understand the need to generate profits, but this is LUDICRUOUS!!
I think that if banks want to justify charging as much as they do, they should make ATM’s even MORE convenient-does anyone recall that when ATM’s were first introduced in the early 1980’s, they were equipped to dispense change?? I remember being able to withdraw $5.61 if I wanted to!! Then it went to only being able to withdraw in multiples of $5, then $10, and now $20!! In summary, ATM fees only make sense in that they allow individual businesses to buy and operate a cash machine to offer their customers access to cash. But for a large bank to charge anything more than a small PERCENTAGE of the transaction amt (2 to 3%) is very, very wrong, and a sign of UNCHECKED GREED!!

OK . . . TAKE CONTROL of how you handle your money. If you use credit cards, pay off the entire balance every month. Make the money brokers work FOR YOU.

When paying by debit card, 1] keep your bank balance in mind, 2] request cash back/prevent use of ATM, 3] avoid surprises – enter transaction in checkbook IMMEDIATELY, 4] STOP when the balance gets close to the bank account minimum.

It’s not as though the ATM went on strike. The increase in charges are pure profit for the ATM provider.

GOOD LUCK !

When did ATMs become an entitlemnet? When did we get the right to go to an affordable baseball game? I see many people calling banks greedy, but in my life I have NEVER once seen a person go into their boss’s office demanidng a pay cut because they feel their salary is too high.

My point: the ATM fees will rise until people stop paying them, or until lots of entrepreneurs enter the ATM market to provide cheap access to money. That’s how a free market works…

Comment to Peter Hooper.
Paying with a debt is not an option as most stores charge you a fee to use your debt card.

I use debit cashback at stores to avoid ATM fees. I bank at a credit union and there aren’t many Credit Union ATMs. I appreciate the fact that they opened another branch on my side of town, though!

If you are travelling overseas and want to avoid ATM fees, plan ahead. Bring Travellers Cheques. Yes, it requires keeping up with them and that seperate envelope that lists all the Cheque numbers you take with you. However, you can get you money back if you lose Traveller’s Cheques or more likely, if they’re stolen. Cash, you’re out of luck!

I have no problem paying the ATM fee for the convenience when I need money. It certainly makes me think twice before I withdraw through an ATM not belonging to my bank.

Must credit unions share in a no-surcharge national network. This is just another reason to join a credit union!

I’m really surprised at several of the “outraged” people here. First let me start by saying I’m no fan of fees from ATM’s, bounced checks, minimum balances, or anything else! But that being said, don’t you realize how EASY it is not to ever incur these fees in the first place?

Don’t like ATM fees? Withdrawal at least $100 at a time. Get cash back at several local stores. Need to spend more than $100? Use your debit card! Most are equipped as Visa’s or Mastercard’s and are widely accepted.

Don’t like bounced checks or minimum balance fees? Keep a certain amount of savings in your checking account. Pretend having a $500 balance is actually your “$0″ balance. If you’re stilling having trouble with fees, your spending habits and lack of budget is the REAL problem, not the bank. Fiscal responsibility can be accomplished at any income level. I’m certainty not saying Bank of America is the most innocent entity out there, but I think it’s time that people start taking some fiscal responsibility for their own actions.

Having worked for the first company allowed to operate an ATM (in Canada) not belonging to a bank, big bucks are being made. We had machines in Casinos, Restaurants,bars, Big Name gas stations etc. The company profited from large income due to the fees stiffed from the customers. Some of the stripe places charge 3$ per transaction ( besides the bank charges ) Then about 5 years ago the major banks decided to go the same route. The banks cover the maintenance fees and make a sum on the side, and that is even having paid the armored car companies.
One question : What are we the people to do, but keep on paying.

My humble opinion is there should be salary caps like the Hockey world and maybe some CEO’S would not be so greedy and the wealth should be put to good use. With this type of plan we might not hear of Enron’s , Worldcom and Norbourg’s. One thing nobody has the guts President Reagan had ( Air traffic Controllers ) Everyone is worried if their butt is hanging out instead of doing the job they are supposed to do. I may be harsh, but someone needs to wake up and smell the coffee….. as long as there is no fees !!

Join a Credit Union, there are no account fees, no minimum balances, and ATM fees are reimbursed. Banks are in it for the profit and don’t care about their customers!

I like how the Bank of America spokesperson said that the higher fee for non-customers “is designed to improve access and convenience for its account holders using ATMs at its branches – reducing traffic to cash machines.”

Sorry, Betty, that’s almost never a problem for me. I can count the number of times I couldn’t go straight to an ATM because of customer traffic. Why didn’t you just be honest and say the real reason for the increase, which is a little more money for the bottom line?

Outrageous BofA ATM fee ripoff!

We just returned from our Europe vacation and shocked to learn $50 for 5 ATM cash withdrawals from checking account. $5 per withdrawal by BofA and average of $5 per withdrawal by the issuing bank. FYI, I do maintain a large balance in my BofA account, customer for last 15 years, and do two bi-weekly direct deposits in this account.

They do treat their VIP customers quite well, don’t they?!

Oh, and at least you have a choice to use a “foreign” ATM and pay the fees or search for your home bank to avoid them.

When you go to places like ballparks and amusement parks, we all know EVERY aspect of your experience is jacked up in price. Let’s see, a recent trip to Dodger Stadium included $15 for parking, $12 per beer for a 22 oz. Corona and about $4.75 for Carl’s Junior french fries. Now when you go to the ballpark you have to park and eat (you can somewhat argue that point), but you know what I mean.

The $15 parking fee is nuts, more than the price of certain seats at the stadium, but you can go to the park and suck it up or just watch the game at home.

I’m a private owner/operator of a portfolio of ATMs, mainly based in LA. I will be the first to admit that most of my ATMs are north of $2.00 (usually $2.50, sometimes $3.00, depending on the location). The way I see it is that it’s a convenience for the customer and unlike many credit card/other bank charges, the user has the option to opt out of the transaction after seeing the fee (not in small type) right on the screen, without a charge.

Like others have said, if you go to 7-11 or a gift shop or even order room service from a hotel all the prices are jacked up and all have one thing in common….the convenience factor.

I’m sure my fees have turned off many customers at some of my terminals. That’s okay; some value the convenience and some don’t.

My pricing for withdrawals is on a case by case basis. So, if I have an ATM at a ritzy hotel where guests are paying $300-$400 a night for rooms and $14 for a martini at the bar, the ATM will be $3.00 or higher to keep in tandem with the other jacked up prices in the hotel.

The majority of my machines are serviced by armored car carriers (like Brink’s), so I am not running around town, loading my own machines. With that in mind, there are a lot of operating costs for me in running the ATM (the armored car deliveries, borrowing the ATM money from a bank and paying interest on it, the revenue split to the location, etc).

I hope my entry has enlightened some about the other side of the business.

-SB, LA

PS The funny thing is I try to use my home bank as much as I can for cash withdrawals, but value the use of another ATM (mine or someone else’s) when I am in a pinch….Vegas casino ATMs are usually $4-$5 for the terminal fee.

Honorable mention for Capital One, they refund any and all ATM fees if you have $1,000 average daily deposit balance all while having some of the best interest rates on their savings/online money market/CD products out there.

I worked in the banking industry back when ATMs were first installed. The rationale at that time was that they were cheaper to operate than a live person in the bank teller role. Once they started charging fees, everyone seems to have forgotten this.

I think the policy for ATM use is a disgrace. To be charged twice by the Banks for taking out your own money is just plain greed. We should boycott the Banks that use this double-standard and see how they feel when they have no customers to deposit money in their institutions!

Most banks seem to have multiple branches in all but the smallest towns. Simple, just get cash back at the grocery store or elsewhere. Back before ATM’s you couldn’t walk into Wells Fargo with your BofA check. You can’t use your Mervyns card at Macy’s. So why should one take another banks ATM for free. Plan Ahead.

When I used my card, the bank that owned the ATM charged me a fee and my bank charged me a fee on my transaction and then on the fee the bank that owned the ATM’s charged and called it another transaction that merited a second charge. I complained to the bank president and let him know that I was not happy and as a 23 year customer at that bank about the double charge for a single use of an ATM and he blamed it on the technology and forgave the charge on the other banks fee which I thought was fair but nothing will change in future charges. The banking industry is not such a profitable business because they give their customers the benefit of the doubt!! They want you to use your ATM card but……there is hell to pay!!

I love all these commenters writing things like “BofA raised the fee to $3, so I’m closing my BofA account so I don’t pay it.” The fees are for OTHER BANK’S customers, NOT Bank of America’s CUSTOMERS. BofA offers a no-minimum-balance checking account (MyAccess) that’s free of a monthly fee if you open it online. Get informed, and get with the program!

I am not sure why people have a problem with businesses making money. I have never heard of a bank forcing someone to use its ATM. I am 40 years old and the only times I have paid ATM fees is when I travel overseas and use ATMs to get local currency. Use your own ATM and use cash-back options at stores. The fact that some people don’t use self discipline isn’t a reason for the government to step in and protect people from themselves. If we were to have laws preventing banks from having surcharges, banks would simply stop allowing noncustomers from using their ATMs–they aren’t charities.

I am very glad this forum is here and I wish to comment on a very important segment of our population that needs to use ATM’s. I’m speaking of our ARMED FORCES on active duty. Last December when my grand daughter joined the USAF she was asked to submit paper work to have her pay electronically deposited into her bank account. She did this. Then was sent off to Texas for BASIC training. A few weeks later when she needed money she went to a ATM and withdrew $100 from her account she was charged $2 by the ATM vendor and $1.50 by her bank. 3.5% for withdrawing money from her own account.
I found this outrageous but correspondence with the bank and Senators and Representatives has had no effect whatsoever.
I recently spoke with her and she said she has found ways of reducing these charges such as joining USAA and getting cash with debit transactions but even this has not totally been able to eliminate these charges because she still has some of her money going to the local account. which for personal reasons she desires to keep open…
Speaking for other members of our armed forces with wives and families depending on them they also have the same problems with ATM fees.
I believe all members of our ARMED FORCES should be exempt from any ATM fees while on active duty.
With 1.4 or more million ARMED FORCES personel being paid what 1/2 or 1 Billion dollars twice a month to our banks why should they have to pay these fees. These people are giving there all for us and being underpaid for what they do.
When i meet one of them i always thank them for their service. Bankers should add ” AND YOUR MONEY ”
Can anybody come up with a way to resolve this situation? I’ve been totally frustrated trying to get something done. Thank You for the forum

BOFA knows that fees are an easy way to hit their profit goals. They have the government in their back pocket so they do what they want. The only way to fight back is to not do business with BOFA and advise others not to either.

Face it Bank of America is a predatory bank, always has been always will be until the Feds start regulating services like they did in the past.

When BOA announced the three dollar charge, I called them and complained, why? They have closed four branches in this town and relocated to locations farther away making me use more gas to get my money.

So what did I and my neighbors and family do? We were all discussing the problem at the bus stop the other day while we were waiting with out kids. We all decided to rip our money out and go with another bank in town, Fifteen families ripped out their checking and saving from BOA, from what I understand it was quite a hunk o money and customers that BOA lost.

Actions people is what tells these CEO’s what they are doing wrong, if enough people leave BOA and makes sure you tell them why you are closing your account. If more people did it the more these banks would understand one thing.
WIHOUT CUSTOMERS THEY ARE NOTHING! Lose enough people and the message will be sent. Our know our local branch of BOA was quite upset, OH WELL!

Raise their fees and grant credit to illegal aliens. Thats BOA

ATM fees are a rip off. If everyone, for one month, would instead line up at the bank teller window to do their weekly banking, like we all used to do, and avoid ATMs altogether, so the bank has to hire extra help (with benefits), the ATM fees would drop like a rock.

I USE MY BANKS ATM ALL THE TIME.
IF I CAME UPON A SITUATION THAT I NEEDED CASH FASH AND HAD TO USE ANOTHER ATM, I THINK THE FEE IS OK.
LET’S FACE IT, GET WITH IT, USE YOUR OUW ATM AND STOP COMPLAINING ABOUT THE FEES FROM ANOTHER ATM……….THE KEY…..PLAN AHEAD!

Where did all the banking profit measures go that we had years ago? And by the way, when are the banks, and savings and loans going to pay back the 300 Billion, yes, that’s a big capital B, that the taxpayers loaned them to bail them out? I’m still waiting!!!

This is an outrageous practice. There are no human beings involved – only for wont of a better term, a robot.

That this practice is so wide spread and that it fels the same public outrage seems to fall on deaf ears when it comes to rectifying this situation by pur elected officials. Once again, the lobyists have greater influence thant the general public.

My suggestion is, as many other people stael is to use your local bank rather than one of the larger institutions and take out the amount of cash that you think you will need for a given period, rather than bits and pieces.

Elections are just around the corner. We must all put pressure on our representatives and the presidential candidates to put an end to this insult.

Several years ago I created a very large spreadsheet that keeps track of every aspect of my finances. On the opening page is a reminder of why I even have a massive, time consuming, task of keeping track of money: The rich man lords it over the poor, the borrower is the lender’s slave. Proverbs 22:7
I don’t really know if it really is a biblical statement – but it does drive the message home.
The ONLY place I pay ATM fees is at a casino – and that’s because the slot machines done sucked down the cash I brought. But wait…maybe the two aren’t so different….

Apparently, none of you making comments remember when,three or four years ago, Congress had a banking bill that tightened up credit card “rules.” I called Congresspeople to beg them not to vote for it because it was USURY. They voted for it anyway (Republican majority). Since then, there are more and higher charges on our accounts–late fees, overdraft fees, higher minimum payments, etc. The people who have problems with these practices are us–the enormous middle class. Though most of you commenting here seem to have common sense about planning for cash and specifically avoiding ATM charges, I think most users of ATMs have the behavior that the banking industry knew we would have–we in fact do less cash planning for our needs and therefore wander around knowing we can get cash almost anywhere at an ATM even if there’s a charge. I suspect even some Congresspeople had noticed the impact of the increased charges on their credit card accounts and were concerned but could not fight the Republicans. I just read the second book about Karl Rove which revealed his plan to deprive Democrats of money so that they could no longer contribute to the Dems–these increased charges are part of that. Anyway, usury is unconscionable and I hope the Democrats reverse banking trends when they take office. I believe we’re being systematically and knowingly “screwed” (sorry) by an industry that has not enough regulation. Some banks-three, I think, did testify before a Senate committee, but they were the “good guys,” if there’s such a thing in the banking industry. Politics is personal. I’m watching and waiting to see if some morality returns to our country.

The funny thing is the actual cost for an ATM transaction only runs a bank between $.17 amd $.79 (not counting depreciation on equipment). All the rest is pure profit for the bank. Plus the banks only get hit for the transaction from one side, unlike the consumer…

We have become a nation of whiners. The ones WHINING the loudest are the envious jerks who just love taxing the “rich,” so they get a free ride, so let them pay; who cares?

I don’t like to advertise, but my bank offers free atms anywhere. TD Banknorth will reimburse you for any ATM fees. I even paid $20 at Soores in NYC and I was reimbursed. It takes the thinking out of choosing ATMs.

HERE’S WHAT PEOPLE DON’T THINK ABOUT…. someone has to stock the atm machine with money. someone has to pay for the machine. someone has to pay insurance on the machine in case some idiot tries to take it; someone has to put out the cold hard cash to put in the machine to vend it to everyone. if you don’t don’t bank at THAT PARTICULAR bank when you use their atm you should be paying a fee!! they have to pay to keep that machine working and the liability insurance of having the machine!!! everyone wants something for nothing — think about it!!!!

I think ATM fees are a rip off and were right from the start. Anybody that needs an ATM for cash just isn’t using their head. You can get cash back at most stores and don’t need an ATM. I haven’t used an ATM in years and don’t need them. Anybody that pays $3.00 to get their own cash is nuts.

Hey, banks are the most profitable businesses in the world, behind only big oil. another industry we all love and trust. The fees are bogus – who makes a $20 withdrawal in person anymore? and if you did, would you be OK paying $3 in fees to do so?

High bank fees and ATM charges are bad news for those who travel or live outside the U.S. It is difficult enough to deal with banks at a distance, let alone have to pay another fee. I am turning towards credit unions and non traditional banks for this reason.

BOA contiues to convince me that my decision to NEVER do business with them is a good one.

We are a nation bent on instant gratification, people who don’t extrapolate a $3 fee over a year costing them over $300 yearly. We line up like lemmings to pay all the fees that banks and credit card companies invent. We don’t submit our rebates, we pay 28% on our cards and a $39 fee for being one day late, and we pay for access to our own money. If I were a bank, I’d keep raising the rates until my profits leveled off. For goodness sakes, people go to Gary Coleman’s check-n-go store and pay 99.75% interest! Boo freaking hoo. America gets what they deserve.

I haven’t had an ATM card in over a decade. I use my credit cards nearly exclusively and pay them off at the end of each month. Not only am I not charged a fee, but I get 1% to 1.5% cash back! What do you always need to get cash for? Sure I keep 40-50$ in my wallet just in case but it’s often in there for weeks/months until I come across a place that doesn’t take credit.

I remember very clearly how Washington Mutual advertised for years that they didn’t have any ATM fees at all. They quietly dropped it and I still haven’t forgiven them for that.

They encouraged us to use them way back whenso they could keep the costs down. Now that we are using them they want to charge us more.

I bank at multiple banks, mortgage at B of A, Investment account at Wachovia, line of credit at Wells Fargo etc. My debit card that I use most often is from a Credit Union. Bottom line is I am in fact a customer at all these banks yet they still charge me these outragous fees because I chose to have a debit card elswhere. At some point customers like me will not use these ATM’s thus the banks will loose money and utimately we will move our other banking business (non ATM) to other banks. I am getting use to going out of my way to an ATM with lower or no fees.

It’s pretty easy to avoid these fees, but let’s face it, the only reason why these fees exist is because consumers are willing to pay for them. Like many other fees, the only reason why they exist is because it’s another profit center.
As the years go on, technology has made accessing data much easier and cost effective than in the past and that includes transferring money across the ATM network. Furthermore, weren’t ATM networks such as STAR and Plus created to address these issues?

Many of us, travel overseas a lot on business trips… We can’t afford to depend on hometown banks. We can’t take the risk of carry lots of cash.

We are in 2007 !!! Technology should get cheaper. Greedy banks don’t have enough with people already owing them homes, cars and so on.

Washington Mutual never charges me a fee to use their ATM. They are open until 7:00pm, and they are located inside some of the popular shopping stores. They are even open saturdays at some locations. I don’t personally like US Bank, but they have a branch located inside a local Albertson’s (food store) that is even open on Sundays – now there is your service.!!! I didn’t even have to be a customer to get a $100 bill changed there one Sunday. Like most people are saying – plan ahead, use your debit card, etc…. and yeah – the lobbyists who line their pockets with the money from the banks don’t really help the situation either

These ATM surcharges are the biggest scam in the banking industry! At first they were free, and the banks would praise the convenience of the ATMs. Then, after you are hooked, they start charging you (more and more as time goes on). Banking customers should fight back. Stop using ATMs and return to the days of local branches and tellers! If banks had to hire more tellers (costing them more in hourly rates and benefits), I’m sure you would quickly see ATM fees completely eliminated.

Why should a bank let you access for free another bank’s accounts on the ATM’s they provide and maintain? There’s no Right to Free ATM Transactions in the Constitution. People are lucky the fees aren’t $100 per transaction, which would really drive home the point that ATM’s are PRIVATE PROPERTY.

They are adding the fee because they can. Easy, easy money for them.

I think its bull that banks are raising their fees it has nothing to do with traffic for their customers. They want the money, plain and simple and they are hoping that by charging non-customers more…that they will get you to open an account there. Its not always practical to say just use your own banks ATMs. Most venues, only have 1 ATM and it may not be your bank’s ATM. Banks are out to make money on fees. 56% of Bank of America’s revenue comes from fees!

Go ahead and open an account to avoid the $3 ATM fee, then they will hit you with a $3 low balance fee if your acct drops below $300, or if you transfer money between accts 6 times a month, or if you go to transfer money out of Bank of America using an ACH transfer. They will say “just set up direct deposit into a savings account to avoid fees.” …but then they only pay you 0.2% interest when most money market checking accounts pay 5.1% right now.

You’re better off doing banking through your broker… high paying money markets and reimbursed ATM fees…like Fidelity. …Or just buying the pack of gum and getting cash back, at least you get something!

I’m actually quite annoyed with Bank of America for raising the rates. I’m one of thier customers that also has a PayPal account (linked to a BoA savings account). I’m one of thier “valued” customers and yet still get shafted with a $3 fee if I want to get money from the PayPal account. If they aren’t careful, they’ll nickel and dime me into moving my money to another bank.

What amazes me is that US consumers on average have credit card debts of at least $8,000, so I’m not sure why we are complaining about needing cash at ATMs and the fees? Why not whip out the credit card and charge it?

I’m also a BofA customer and I looked at savings and checking accounts that fit my financial needs. I have a checking account with debit card. I get hit with no monthly “maintenance” fees, nor charged for going to a uqubitious BofA ATM.

So do I think $3 is obscene for using a non-BofA ATM plus other bank’s fees? Absolutely. However, I manage my money well, so those instances are few and far between.

Heaven forbid Americans learn the concept of “personal responsibility”.

Banks continue to reap record profits. All in the name of improving our service. But this always ends up costing more somehow – hmmmmm. I wonder …

For any of those supid enough to believe that BoA gives loans to illegial immigrants are the people who spend all day watching CSPAN and have nothing else better to do(Funny how the media would not report the correction… I am sure that NEVER happens). Why not do your own research and find out that it is not true!! I would know, because I am a happy BofA employee and provides exceptional service to each customer. For those who “stick with local banks” must think that we fly in to the branch from a big corporate building everyday. I live local, pay my local taxes, and part of the same community as my customers. As for the ATM fee’s…find another way to get cash, quit complaining and go back to watching CSPAN.

I have seen several cases where Bank of America fee’s are not 3 dollars, they match the fees to other ATM in the immediate area. Their statement that it is to improve access is misleading.

Absolutely a rip off. I will only use the ATM of a bank I bank with. I agree, plan how much money you will spend weekly and and stick with that amount. I currenly have two online accounts that I am just peachy with. I will never pay $3.00 to access my own money. Wake up People we’ve got to fight back!

Does anyone care that convenience stores are buying 16oz Coke for 50 cents and sekking them for $1.39? How aboout Starbucks or Cariboo with their markups? Banks are not non for profit organizations. This question should not even be asked!

I was shocked to note apart from $2.00 surcharge by the bank owning the ATM, I have been charged $ 5.00 on each withdrawal by my own bank, Wachovia. If this is not daylight robbery,what is ?

BANK OF AMERICA SUCKS!!! if you have an account with them close it now, or you will have problems later. They are greedy and ineffiecent. Get with a credit union who is customer centered!

Corporate greed is destroying the working class in America. Be wise and don’t use a ATM with these fees. AVOID them and get corporate America where it hurts in the pocket. Be Smart, Plan Ahead, And Don’t PAY!!!

It is utterly ridiculous!! What next?? Nothing like screwing the public. I do not usually use ATM’s. I was out of town and could not find a BofA ATM anywhere so I used another ATM. They charged me $2.50 which I agreed to pay. Then I received my bank stmt and I was charged another $2.00. I thought they made a mistake – but NO! That is their policy. BofA better wake up or they will be out of business if they keep this up.

Banks charge account maintainence fees already, just to have an account.
Banks make money with your money while it is in there bank. Charging to withdraw money should be regulated by our useless government. .50cents

If you would do some checking you would
find.It costs any bank .15 cent for an atm transaction back in 1980. A that time atm’s cost $100.000.00 or more.
Today it is less then $20.000.00.And thay are EVERYWARE.Surcharges a ripeoff? That’s a NO BRAINER!!!!

My Credit Union (Robins Fed CU) in Warner Robins GA is one of those fee on fee banks. They are no longer a member of the CU Association and just love to charge me an extra 1.50 when I have to use someone else’s ATM. RFCU has very few of their own ATM’s. I think the Banks in this country have become more like loan sharks. They charge fee’s for everything, they pay nothing for a savings account and barely have free checking for large balance holders. In the past 2 years, 7 different banks have build new branch offices within a mile of my house. They must make a fortune from the fee paying customers to afford all of these new building. I’m using internet banking more and more, and Banks like ING are paying 5% on regular savings.

The one good thing about the fee raise is that there will be money for the customers of the bank left. I live in Savannah, GA and almost always one of BOA’s ATM machines is out of cash because of the tourism.

I have a problem with banks charging what amounts to usury for me to access my own money. For the person who said use a credit card, and that we don’t need cash, I beg to differ. If I go to the local farmers market to purchase fresh vegetables they do not have credit cards. If I am traveling for business and want to tip the bell hop they do not have credit card machines attached to their belts. If I need to pay for parking at a parking garage, they often only accept cash. Additionally, I do not think it is safe to carry large amounts of cash so I often need to use an ATM when traveling for the above reasons. I think a small fee is reasonable, but $3 is usurious. Their profits are higher than ever. And they are making money on our money while it sits in the bank. And they are never open when most people who work are able to get to them. It is greed and the continuing takeover of this country by giant corporations who have all of the politicians in their pockets.

Banks are getting too greedy. no I dont agree to the excess surcharge of the ATM, meaning there is no tellers. It is inexcuseable.

Banks are simply greedy! Credit Unions are more friendly!

If I’m going to pay a fee at an ATM, I always take out $300. That way my $3 charge isn’t 15% of $20, instead it’s 1% of $300. Yeah, I carry a lot of extra cash around, but I haven’t been robbed yet. If I were to pay 15% on $20 you bet I’d be getting robbed all the time.

What would you expect from communistic socialistic types of businesses…Greed Greed and more Greed…Maybe it’s time to take our banking elsewhere…Or just quit using them altogether..

It’s easy to avoid these, and other, fees if the customer reads the disclosure on their bank fees!

If you don’t want to pay the fee, then plan better. Use a debit card, get cash back when you make a purchase. There are plenty of options to get cash that won’t cost you a dime.

Congress should focus on more important thing

Yet another reason to find a credit union.

It’s a service and all services cost $$. So whats the difference?

Use a debit card.

ATMs are a convenience. You can always wait until the Banks open and go into the bank and use a teller or use your own Banks ATM. Convenience fees are not criminal. You dont ask congress to regulate the amount the 7-11 can charge as a convenience store.

I think banks in general are a rip off. A box under the bed or a hole in my matress/box spring sounds better and better every day.

Canadian Banks charge far less. to counter act the charges I buy Bank stock. Maybe buying Bank or America Stock would be a geed idea to get some of your Services charegs back. Dividend on BAC at this time is about 5%

Interesting. People will get outraged over a $3 ATM fee, yet aren’t nearly as outraged over all of the taxes they pay (and I’m not just talking about payroll taxes). People lose far more money to taxes that any ATM fee. Gas, food, clothing, electricity, cars, phone service, tires, houses, and so much more are taxed. Get upset about something that is actually impacting your life.

BoA – shame on you! But what else would you expect from a bank with the highest rates and lowest customer value. As is customary: the bigger they get, the worse they are.

Clearly an article written by someone who never ran a business. The first question is are banks in general making too much money off of the business of banking? Customers want free checking, they want maximum rates of return on their deposits, and they want the lowest rates on loan products. If customers don’t want to pay for the real cost of maintaining a checking account, they’ll pay for ATM activity, and overdrafts, and wire transfers, etc. Are customers getting ripped off by P&G when they buy Gillette razor blades? The razors are so cheap.

I own ATM’s and I would charge 3.00 if I thought the consumers would be OK with it. I only charge 2.00 because I think that is fair for the investment in the machine, the cost of the money we have inside and maint on the machine. For those who think 2.00 is too much, your ingnorant of the cost of doing business. If there were no money to be made in ATM’s, there would not be any so think of that the next time you complain about the fees. No fees = no machines.

What a suprise, Bank of America is nothing less than a Loan Shark. And as this nation being a nation of the people, for the people and by the people, is a JOKE. This country is run by the Lobbyists that is why I no longer vote.

Ever the critical. These fees are just another rip-off of the consumer by big business. Not everyone can bank close by having already established a banking relationship far away. If they are disabled, moving things is not so easy. Even if they have a local bank, maybe their disability prevents their going to their bank vs. the closer bank. Why do any of you support big business ripping off any single person? Not everyone has the flexibility to change banks, go to their bank only, etc. If someone has to “pay a price” associated with the use of ATMs, why not the bank? They have plenty and unless your name is Rockefellar, I assume you’d rather not throw your money away.

ATM transactions still require a human being to verify them. I worked at a bank and that was part of my job everyday. Then it’s sent to the home bank, where another person verifies it again. These transactions don’t miraculously happen without any human labor being involved. Those humans are paid for doing their job. You don’t work for free, do you?

Convenience costs money. If you buy all of your groceries at 7-11, you’ll pay more for them than going to the regular grocery store. If you buy cigarettes from the machine in the bar, you pay more. Why should banks be any different? If you don’t like it, don’t use ATMs, especially those out of your network.

I rarely use other bank ATM’s, but sometimes I don’t have any choice (mainly when I am traveling). All told, those withdrawals might cost me $10 per year, which I can live with. If a person uses ATM’s all the time, use your brain. Either get enough cash to last you a while, or use your own bank’s ATMs. Duh!

in your mention of the debit card option you forgot to mention that merchants will charge you a transaction fee too…so that is NOT a free option, at least in some cases, as your language would suggest

As a soon to be former customer of BOA, I think they charge more and more often for just about everything. They would charge you for breathing the air if they could. They are all about making money and don’t give a flip about their customers. I wouldn’t be at them now if my old bank hadn’t sold out to them. Now we are working on transfering our accounts to a credit union who only charges 1/5 what BOA charges for things. I really feel like they are theives for what they charge for everything. They certainly lost my vote after what they have done to me! I wouldn’t recommend them to anyone for any service.

atm’w were supposed to save banks millions of dollars because there would be no need for so many tellers….what happened

The banks are “robbing us” with their ATM fees and service fees. Then with the high credit card fees, and finally with the pittance of an interest they pay on savings accounts. Give ma a teller any day over these “convenient” ATM machines. I will never use one that doesn’t belong to my bank. And lobbyists ARE too powerful. They are destroying our lifestyle for the sake of big business.

No one forces people to use ATM’s that have a high fee. I have two banks. One with a lot of ATM’s in the area (my bank doesn’t charge me), and an online one that reimburses me up to $16 a month.

Lets have a week where we write checks; no debit card use, go into the bank and cash a check (remeber that’s how we use to get cash). Banks are sticking it to us and they could not handle the volumn if we went back to checks. They would start paying us to use the ATM, bill pay and debit cards. Pick a week, I will join you..

Try banking in Canada! There are charges for any customer service. Even bill paying on line and speaking to a teller besides the regular charges per check and ATM fees.

BofA is notorious for gouging not just their own customers, but now they’re passing that gouging on to everyone else. It’s profit-driven, nothing else. When I saw that BofA did that to me a week or so back, I vowed to never go back. So…it’s actually gonna backfire.

My bank, WaMu, doesn’t add a charge if you use another bank’s ATM’s. You should insist at least that your bank does the same.

Basically, BofA is becoming the strip clubs of banks. Charging you an arm and a leg for you to get to your money.

If the consumer pays the $3 fee, then it is not excessive. The consumer just voted to keep it. If enough consumers avoid that ATM, the bank must lower the fee!

The only drawback to this system is when consumers lack choice, i.e. a $3 fee ATM is the only option in a geographic area, such as an airport or stadium. If the choice is pay the fee or be without cash, then there is no choice.

It’s simple theft. If I reach over the counter and grab a few dollars, I’d end up in jail. Why is it ok the other way around?

Even worse is the surcharges at foreign ATM’s. Chase Bank currently rips me off for 3.5%.

The best way to put institutions in check is to turn this whole thing around on them. Stop using ATM’s, go in person creating huge jambs that force the banks to hire more tellers. Make the ATM’s a costly overhead with additional labor costs that take this profit away from them. As soon as you counter the banks greed, they will respond with treating consumers faily.

The only way to get large corporations to respond to the consumers is when they lose their customers and don’t have any consumers to take from.

I made a personal vow to not ever do business again with AT&T and DirectTV because how I was treated as a customer. They have not made amends, have not provide proof that they put in place controls to avoid a recurrence of the problem and capitalize on they have the right to change their terms at anytime they choose. Are you actually going to allow these large corporations to control your money??? Wake up everyone, stick it back to them and force their costs to go up not yours.

Cash back doesnt work anymore cause the banks now are starting to charge $1.50 or so to use debit card service. Im sick of these fees and i think im going to start keeping my money in a shoebox under my bed!

Banks have no obligation to provide ATM services to people who are not their customers. That they do so is a convenience to the person.

If I were running a bank and a community passed a rule banning ATM fees, I’d be very tempted to simply provide service only to customers of my bank.

Are the fees too high? Come on, am I the only one who remembers the days when if you were caught short after five, or after noon on Saturday, you just didn’t have any money? Or you paid five dollars at the grocery store to cash a check?

Personally, I choose deliberately to do business with a bank that doesn’t charge me ATM fees, and I plan my cash so that I don’t get charged foreign ATM fees. I can’t see any particular reason that I should foot the bill for my bank to provide services to non-customers. If it costs me one cent so that you can get money whenever your little heart desires, well, I consider that one cent too much.

Grow up, people. Manage your money and your time, make intelligent choices, and pay your own way. Stop expecting me to pick up the bill for your own poor planning.

Do I think that $3 a transaction is highway robbery? Yes.

Have I seen anybody with a gun to their head, being forced to use the ATM? No.

If you don’t want to pay the fee, use your bank’s ATM, do a better job planning how much cash you need in any situation, use your debit card and get cash back. Most people are too lazy to worry about these things, and honestly, don’t care about the ATM cost.

Don’t complain about the cost that the banks have associated to a service they provide – if the fee is removed via legislation, you are going to see a horrid backlash in the removal of most ATMs, or the restriction of use to bank members only. Pick your poison.

I haven’t done *any* business with BofA in 11 years… hard to do sometimes, but I was a customer in California, having to pay a higher monthly fee for “talking to a teller” instead of using a machine. Since then, I refuse to give them any money, even their ridiculously high ATM fees. If you do the math, they are WAY higher (the fees) than the simple purchase and yearly maintenance- how can the banks look you straight in the eyes and tell you they’re not ripping you off???

ATM Fees are ridiculous at $2 or $3. Unfortunately, the banks will continue to charge as much as they can with no fear of Congressional intervention…robber barons. I am stunned that banks even try to explain away increases in such fees as being related to costs…what a joke. The extra dollar in fees is probably required because the whores in Congress increased their “representation surcharges”.

Banks make absolutely huge profits every year, millions, billions. They are preying on consumer behavior. You have a choice, and you CHOOSE to pay the fee. Take three $1 bills, throw them into the toilet, and flush it. That’s what you are doing when you choose to pay the fee. There are many many free options for accessing your money.

What a bunch of whining and confused ninnies there are out there. And we wonder why so many people got caught in the SELF INFLICTED trap of the sub-prime mortgage crash?!

1.) If you don’t want to pay the ATM fee, then don’t agree to the charge. It’s easy!

2.) If you plan ahead maybe 30 minutes in your miserable life, then you will never (with incredibly limited exceptions) need to use an unrelated ATM machine again. How hard is it to know where 2 or 3 of your bank’s ATMs are relative to places you go on a daily basis?

3.) Open up accounts at multiple banks. I have a BofA account for when I am in one area of the country and a Wachovia account for when I am in another. Between those two banks’ networks, I am never very far away from free ATM.

4.) Say ‘no’ to whatever the “emergency” is that you need the cash for. In today’s US economy, you can go for weeks without needing cash in your hands. And you should be able to anticipate when you’ll need the cash (i.e., a road trip, perhaps).

5.) If ATM charges get you hot and bothered, wait until you grasp the concept of credit card fees. that’ll really blow your mind.

USAA FSB reimburses for ATM fees from other banks. I think there is a monthly limit but I’ve never hit it.

One reason for ATM fees is to pay tellers, operating fees, taxes, etc. Since NBC made a sitcom about cavemen(general public), maybe everyone should start paying with rocks.

I openned a BofA Acct along time ago because BofA has ATMs in malls, grocery stores and branches about 1 sq mi from places I go. I never have to worry about finding a BofA ATM. Instead of bitching about a $3 fee, open a BofA account.

Yes, it’s excessive. With BofA charging $3 and my bank charging $2 for the same transaction, that is 25 PERCENT if I only withdraw 20 bucks. So try not to use ATMs. If people make steps to avoid the expensive service and transactions rapidly decline (along with profits from fees) maybe (big maybe) the fees will come down. And if you can’t avoid having to go to the ATM, just withdraw a larger amount so it’s not costing you such a large percentage for a small amount. We should be smarter than this.

Free chacking always has a hidden catch. It’s only free “if”…. The best defense is to use a bank that doesn’t charge for ATM fees. Some will even rebate the fee from the other bank. They’re rare to find, but the’re worth it.

Since banks make almost all of their money through interest, it doesn’t make much sense to charge excessive fees. That’s usually the main reason people switch banks second to poor customer service. Even credit unions do the same. Banks should be chosen with care. It’s you’re money, why should the bank penny and dime it away?

There are plenty of community banks that are catering to real convenience – which to me means having the freedom to use any ATM without paying outrageous fees.

Malvern Federal Savings Bank has been my local bank for years. Not only can I use any ATM in the WORLD for free, but in addition, I actually get paid interest on my checking account. B of A can keep their $3 fees – doesn’t matter to me.

I had a neighbor who worked in the company that handles the clearing of all ATM transactions and he said it cost approximately $.05 per transaction to the banks. THe guy from the banking association is a liar . There making $4.2 billion dollars. No way it costs that much to run the ATM networrk.

Since all the FHA insured loans had insurance that pays off the lending institution, if and when the loan goes bad, tell me, what the hell is the problem?

Bank feeing you to death? Get them right back the old fashioned way — use their tellers to cash your checks and cost them in manpower! If that fails, switch banks. There’s just too many competing banks out there to put up with this nonsense.

I think that folks need to prepare when out for the night so they don’t need to use an ATM thats owned by Another bank. FYI – IF you must use anothers ATM, don’t take a $20.00. Make it worth the expense. Take out a $100 or more. That doesn’t mean spend the $$100 of course…LOL

People complain about the profits that Exxonmakes, but if you factor in sales vs. profits most major banks have a far higher profit margin than they do. If Bank of America had Exxon’s sales, it would earn around $80 Billion vs. Exxon’s $40 Billion. And yet they claim they “need” to raise fees even higher?

As far as I’m concerned, banks should charge whatever
they like for ATM use, as long as they disclose it
prior to finalizing the transaction.

Cash machines provide a very generic service, and
potential customers have many payment options, so the
doomsday scenario where somebody suddenly and
desperately needs $20 cash or their day will be ruined
just isn’t realistic. And if once in a blue moon that
scenario should come to pass, and an ATM machine is at
hand to avoid the doomsday conclusion, and that
machine is going to charge you a fee to save your
day/life, are you really going to begrudge them those
few dollars?

I have one bank ATM card (B of A), and one VISA credit
card, and rarely more than $100 cash in my pocket at
any time, and I can’t remember the last time I “had”
to use a non-bank ATM. I have to believe that only
truly disorganized or wildly impulsive shoppers find
themselves in the situation of being “forced” to use a
non-bank ATM.

In short, this should be a non-issue. Anyone who
persists in complaining about it, particularly anyone
who insists that the banks are somehow at fault, needs
to grow up and take responsibility for their own
finances.

People who think ATM charges are reasonable are wrong. Those of us old enough can remember the banks stated reasons for introducing ATMs in the first place – “They’ll save the bank labor costs and that savings will be passed on to the members … blah, blah, blah”. Now they cry about the cost of running the ATM.

That being said – it’s pretty easy to avoid the charges – Refuse transaction.

(Topper to me was the casino ATM that wanted to add their own $2.50 charge to their bank’s $1.50 charge – They just had to get that $4.00 off the top without waiting for their guest to loose it on the tables or slots – Who goes along with this stuff?)

Gives you pause to think when they give you an “interest bearing” checking account that earns 2% over a YEAR, and then you withdraw $20 bucks and they charge you $3, earning an instant 15% off of you in a DAY. Some deal. That’s why if I must bite the bullet, I withdraw hundreds of dollars at a time and try to minimize the impact, from a percentage perspective. (Plus, I bank with USAA, which refunds fees )

I don’t care if they jack the fee up to $100. There are plenty of options to avoid paying fees, or minimizing them -
1. Only use ATM’s at your bank
2. There are tons of places that have cash back options at checkout (Target, Publix, Walmart, etc.)
3. Figure out how much cash you’ll need for a month, so that way you only pay the fee once.
4. Here’s a novel idea – cut back on your spending so you won’t need the cash in the first place!

Anyone who pays these fees is an idiot. Do business with a bank in your hometown that has the most ATMs if you use them a lot. Or go into a store and buy something (pack of gum) and get some $$$’s back. Doesn’t cost anything!!

I think it is perfectly fine. I’m tired of going to ATM’s that are out of cash because so many non-customers use them. Bigger banks like BoA calculate high traffic times and possible use for a particular day and have enough cash readily available. By detering non-customers gives actual customers better service

Find a bank that will reimburse you for other banks’ ATM surcharges. More banks are offering it now.

Yes. It is outrageous because it is an electronic translation. I could understand if you were asking a human to process a check, but com’on BOA…$3…what a rip off! I left BOA months ago because their fees were on the rise for many different things. I am surprised that breathing in their branches don’t have a fee attached to it. I’ll continue to use my credit union, their associated partners, and retailers that allow for cash back.

Bank of America what else would you expect. The worst of the worst! Raise their fees and grant credit to illegal aliens. Makes sense need to recapture what they will lose when credit cards default!

Give me a break! The bank no longer has to open evenings and saturdays to accommodate their customers…they have less payroll, taxes, benefits, etc. (heaven forbid) and the price of an ATM and data connection is far cheaper than adding 3-10 people to the staff so quit being GREEDY! Congress should outlaw these fees.

Simple answer: if you are constantly running out of cash and rely on ATMs, join Bank of America! They do have the best network in the country. I don’t care where I’ve been in the States, I can usually find a BoA ATM within a block or two. Amazing!

Bank at Compass Bank — they don’t charge to use other bank ATMs and will also rebate the fees other banks charge. No minimum balances.

These fees are, of course, outrageous, and are designed to eliminate cash as a vehicle of commerce.

Witness:

Some banks charge to use a TELLER, charge to use an ATM, charge per debit card use, AND charge per check!!!!

All of this amounts to a TAX on one’s own money, that will NOT go away when cash does.

To their credit, the banks/credit unions learned what every pusher knows: get ‘em in for free, get ‘em hooked, and **** them in the end.

After all, these worthless mucks have to have SOME method for recouping costs from GIVING money away to useless trash in the sub-prime market.

The real story here is once again the lobbyists. I wonder what that conversation sounds like? Lobbyist says, “Mr. Congressman, I believe it’s in your best interest to vote down this legislation to roll back ATM fees/surcharges.” Congressman says, “But why? It seems to be what the people want.” Lobbyist says nothing. Congressman’s puzzled look turns to worried look as he rolls through his mind’s rolodex of past and present “special interest” agendas. Congressman says, “Blackmail is such a dirty word.” Lobbyist says, “Hey you said it, I was just thinking it.” And on they go on there merry way, once again showing the American people who comes first in this “Democracy.”

I never pay ATM charges because my Bank refunds other bank’s charges automatically and has no charges of their own.

My advice is not to do business with the largest banks, but instead work with were local bank. They care about service.

Camden National Bank is Camden, ME offers free checking and no ATM fees at any ATM machine in the world.

http://www.camdennational.com

I use a Credit Union. I have access to thousounds of All Point ATM’s and there are NO FEES! I can also go to Credit Union Service Centers all over the USA and do my banking for FREE! It’s the best network in the nation and Credit Unions rarely charge a fee. Almost everyone is eligible to join a Credit Union, just check the phone book and call to find out their membership criteria. Sometimes it’s by employer, county you live in or some other broad definition. I haven’t paid a bank fee since I joined my parents Credit Union when I was 16! (And that was many years ago)Once a member always a member is their motto. You’re not dropped because you move, quit jobs etc. So stop complaining and do something about it! Leave the Bank and try a Credit Union – you’ll be pleasantly surprised!

Pure profit motive. Welcome to our lovely corporate socialist state. What’s that? You thought this was a democracy? Think again.

Here’s the thing about the fees: it depends on how many other ATMs there are. In Boston, Bank of America has bought out so many other banks that half the ATMs in the city belong to them. Now they’re raising the fee to $3, and if you don’t want to pay it, you have to keep walking until you find one belonging to another bank. That could be a block…two blocks…five blocks…and you’re going to pass at least one more BOA on your way. Of course, you can get out of those ATM fees by becoming a BOA customer and then you get to use the ATM for free…but now, you have to pay their customer fees, instead. Isn’t it obvious what’s happening? This is a strategy by the bank to essentially force people to bring them their business. This is wrong, and it’s anti-Capitalist because it stifles competition!

B4 banks got rich in the LOAN SHARK business, they were all about SERVICE (once upon a time).

The best way to fight this is not use them.

If you can not manage your money, then you pay. Manage your money correctly and never pay a fee again.

If you drive a car into a wall, you pay for poor personal management. Where can not you use a Credit Card?

What are people using this cash for?

It is all GREED. Thats it! If you think it’s anything else, your fooling yourself!

With the beginning of ATM machines, banks claimed there would be no fees because ATM would reduce their labor costs. hence more ATMs meant less tellers. Now they claim the cost of the machine and the interbank charges needto be recouped. welll lets see, you got rid ot the tellers, you increased fees and ypou screwed employees and the public. this is just another profit center and should be outlawed, justified by the banks original arguments, less personnel and overhead costs which they succeded in doing!

Remember when ATMs were free, and when banks would promote that they were easier/quicker to use than waiting in line for a teller? Once they got us all hooked on the convenience, they started charging for it. $3 is certainly excessive!

I need new tires for my car. I think tires are too expensive and I think the tire companies are gouging us poor consumers to fatten their profits. Let’s get Congress to pass a law mandating lower prices for tires.

Any ATM owner should expect a nominal fee for using their machine, but the charges have gone way beyond outrageous. I’ve started getting my gas at Kwik Trip – no surcharge ATM’s and free air (go figure).

I don’t have a problem when I use another banks ATM machine, they are providing a service I am willing to pay for. What really irks me is on top of the ATM fee, my bank charges me another 2$ for processing.

I think it’s ridiculous, just another way to get as much of the consumer’s money as possible.

I don’t think there is anything wrong with it. The cost of these machines isn’t cheap, plus the banks pay millions a year to maintain them.

Sure, and just how much are those interbank fees? Pennies, I do believe!

I have no problem with banks charging fees for using ATMs. What I do have a problem with is raising fees at the rate they do. To go from $2 a transaction to $3 a transactions is a 50% increase. Much like by barber raises haircuts by a dollar…that is for THEIR convenience. Why not raise the rate from $2.00 to $2.25 or $2.30. It would only require a different ATM machine that would dispense coins. I feel like I am being overwhelmed by EVERYBODY I do business with wanting more and more of my money. I will continue to use my bank(REGIONS) which does not charge me a fee and luckily has on inside the gas station I utilize most frequently…and with Walmart and other big stores giving cash back with purchases, there is no reason to be caught without cash. And ATMs are money makers…otherwise why would you see them inside of Waffle Houses and convenience marts.

It’s echoed several times, but the entitlement mentality is disgusting. Banks are FOR PROFIT companies, not charities. It is a service business. When their own customers’ service is impacted by non-customers, they are going to pay a premium to receive that service. It has been this way and will continue to be this way, so use your own ATMs!!!

TD Banknorth has free atm fees. You can use any bank or even those small private atm’s and they reimburse you at the end of the month

I wish they would raise it higher since i’m in the ATM business. CHAAA CHINGGG

Its not ONLY ATM fees that seem outrageous to me. If someone writes me a check and if I go to their bank to cash it, I can in many cases get hit with a fee. There are also banks that charge you for going in to the bank and getting your money from a live cashier.

If this keeps up, I will keep only enough in the bank to allow me to cash my paycheck…oh wait..my employer forces us to use direct deposit…that means that I am forced to use either an ATM, or live cashier which I can get hit with fees for..so my employer is forcing me to pay banking fees as well!

Banks charging ATM fees? No problem to me…stores charging you a fee just because you want to use a credit card – now that has me up in arms (typically I walk away and leave all the goods there but the store still wasted my time when they could have simply removed the darn Mastercard/Visa symbol from the door if they don’t want to deal with credit cards).

BTW – if you are in the military or have a military parent/spouse do yourself a favor and sign up for USAA banking – refund of ATM fees, interest on your checking account with no minimum maintained balance, free checks, 1% cash back on all purchases when using your debit card as a credit card, deposit checks on your OWN time with a scanner and internet connection (I never get off work early enough to hit the bank before they close)…their insurance services will even provide a partial refund (dividend) if you have not made any insurance claims for the year.

Don’t depend on the government to fix anything – the government’s broken beyond repair.

And don’t complain about the banks raising their prices at the ATMs. In a free market economy price is dictated demand. If demand for BofA’s ATMs by non-customer users goes up, it only stands to reason that the cost of using such a service goes up.

Does it suck? Absolutely. But – as the business axiom/cliche goes – “Failure to plan on your part does not constitute an emergency on my part” – if you fail to plan ahead, then the bank will make sure you pay for that failure to plan ahead. And they’ll turn a little better profit as a result. The stockholders should be pretty happy about that. It’s pretty simple logic.

However – that’s why I bank at a local federal credit union. No ATM fees, easily accessible in a pinch, and I’m not getting raked over the coals for different fees.

All the politicians do is talk, they don’t care about ATM charges we have to pay. I will drive out of my way to find my banks ATM to keep from getting ripped off by these ridiculous outrageous fees.

1. Margins on loans (called net interest margin – interest revenue from loans less interest paid on deposits)are continually getting tighter due to increased competition, and banks are continuing to look to more fee based income.

2. Many comments have mentioned Credit Unions. Credit Unions DO NOT pay income taxes. Banks DO. Think about that.

3. Banks have offered these ATM products/services at a reduced cost or free for years on purpose to get us used to the convenience. Now they are raising fees for that convenience. What do you think will eventually happen to free online banking and bill payment services?

4. Bottom line: If you don’t want to pay the fee, don’t use the ATM.

Beach Business Bank (beachbusinessbank.com), reimburses all other bank ATM fees – no matter what your average balance is. Take that, BofA!

I KNEW someone would throw in the “but it’s MY money” argument. Do you ever put your car in a parking garage? Do you pay to get it out so that you can drive it? You bet. Just try to tell them “but it’s MY car…”

(Hey, and parking garages don’t pay you interest on the car while it’s there).

“Your” money at the bank is not just sitting in that particular ATM ready for your use… it’s been loaned to others (ever see “It’s a Wonderful Life?”), invested, etcetera by the bank. You’re paying to get immediately spendable currency into your pocket that will be deducted from your money.

Wow, reading these messages sure shows the “entitlement mentality” that too many people hold!

USAA has free ATM withdrawals from any ATM and automatic fee refunds when using other banks’ ATMs. So even when I have to pay an ATM fee, USAA will refund it at the end of the month. Can’t beet that.

My credit union started doing the same thing for up to 10 ATM fees per month.

It bothers me every time I hear the complaint about the fees and even more so when I hear about banning the fees.

If I was the bank and I couldn’t charge to let non customers use my ATMs, then I’d simply stop letting non customers use them. Health clubs don’t have to let non members use their facilities, why should banks. Yes, it’s the customers money, but it’s the bank’s ATM. Who do you think had to pay the person to put the money in the machine?

Regarding the high cost? If I go to a store and think their product are too expensive, I don’t buy it there. I don’t see the difference.

Personally, I just prepare by ensuring I have enough cash with me. If for some reason I really need more, I’d much rather pay a fee to have access to my cash then be stranded somewhere without money because my bank didn’t have an ATM near me.

It could be worse for everyone. Look at the banks in Canada and you will see that people there get charged; if they do not agree to a non binding contact, $1.00 per transaction or if they do agree to a non binding contract then the charges are between $12-$15 per month for any number of transactions (varies from bank to bank) to unlimited transactions. These Canadian Banks do not even have powerful lobbiests. They just do it because the Canadian governement can’t stop them.

Prior to the introduction of ATMs’ you knew that if you were traveling that you’d have to have sufficient cash or travelers check on hand before you left. Seems to me that if you fail to plan head, that a 3.00 fee is reasonable. Just think of the value of your time to get to a branch, the cost of fuel to get there etc. And if you were out of town and ran ut of cash it was CC’s or you were SOL. BTW BankNorth in Connecticut at least doesn’t charge a fee for its ATMs.

Its just crazy that banks are charging so much at all. They say that the little fees and such are not how they are making money and yet they charge more showing that they are making money out of this. While my bank pays me back for using another ATM, it hurts at the time to see that money disappear when I have no close access to my bank’s ATM network. Congress should pass one of the bills to get it stopped or at least capped so they don’t keep going higher and higher.

I will not be using BofA ATM’s anymore. Its that simple. I will just go across the street to the store, buy a water for $1.19 and get cash back. Its cheaper and I get a water.

This is why I am a credit union customer. They have a network of machines (including stores such as 7/11, King Kullen supermarkets) which are FREE. With membership rules for credit unions relaxing over the past years I do not know why anyone would choose a bank. No comparison.

If my memeory is correct, ATM’s were first introduced by banks and touted as a cost saving measure by removing the human element from the transaction.

I guess you could now deduce that banks have become so efficient in their operations that even now the concept of physical ATMs’ are no longer cost effective in their current profile.

As we all know, just like we all say, Money is what it’s all about and everyone that has money always get more and less for us

Go to the grocery store, buy .50 cents of gum and get cash back. $3.00 is an absolute ripoff. I will go out of my way to find my banks ATM.

ATM fees are excessive! They don’t justify the cost of operating an ATM machine. When ATM’s first came into existence banks couldn’t install them fast enough because they new that it would make it easier for the consumers, it would attract more business and the banks would save by reducing the number of tellers.
On the other hand, it does not supprise me at all that the Bank of America is the one that is setting the precident in hiking the ATM fees. I remember Bank of America when it used to be an unknown bank in the mid 1970’s called North Carolina National Bank – NCNB. I used to be one of their customers until I got sick of them holding my paycheck for inordinant amount of days before posting the balance to my checking account. In those days I lived from paycheck to paycheck and even though I deposited my paycheck in time to be able to write checks against my own account, my money would not be available to me for several days. NCNB was using my money to make more money for itself without ever paying me a cent in return. I switched to another bank and did not have that problem any longer. That practice along with many others that NCNB came up with made NCNB what it is today – Bank of America. Since those days Bank of America has been a leader of figuring out creative ways of getting into their customers pockets. I think that is what we call ‘free enterprise’ and as long as the Capital Hill doesn’t do anything about it banks will continue to do it. Bank of America and the rest of the banking industry pays good money to their lobbyists to make sure that they can continue their practices.
However, consumers need to be smarter also. They should be more responsible and not give in. As long as they use the services that banks are pushing, the banks will continue to do so and charge what they feel like. That is smart business. Not ethical but smart. No one ever said that capitalism was ethical.
Consumers should avoid using ATM’s at all cost, especially if it is not their own banks ATM. Consumers are really the ones that have the power to force a change in any industry. As long as they give in, the industry will keep taking what we are willing to give it no matter what type of industry it is.

Bank of America practices usury. Just look at your credit card bill from them sometime. They keep changing the due dates, which screws people up and allows BOA to up the finance charges and interest paid by you. Saw this happen to several friends. Never have and never will use BOA…. They are evil.

Why not carry a little cash. I never use these things as I don’t value this service but if you like it pay for it. Debit or credit cards cost us all money as the fees the merchant pay are averaged into HIGHER prices. CASH IS KING!

It’s unbelievable!! These banks have a lot of nerve issuing these charges in such an underhanded manner. If the general population was only aware of the % yield the banks are making off of their hard earned buck! May as well keep your cash in a box under the bed at this rate

Yes,
lets get the lawmakers involved in this one, too. They obviously are looking out for the consumers best interest!
Simple solution–don’t have a bank account! I did this for years while I was in college since I couldn’t keep my account straight. Worked great. No fees (well, 50c money orders).
The fact is that ATM’s must have a sign or display the fee. So YOU HAVE A CHOICE. Since we pay it, this is deemed ‘free market.’ Quit whining and TAKE RESPONSIBILITY for your finances and your actions. I am a manager at a major bank now, and I often leave disguisted that grown adults feel a bank ‘owes it to them’ or it is ‘bad customer service’ to NOT refund the fees they incur. Thats like going to shell and asking for $1 a gallon gas. You recieve a product or service, and you pay for it. Isn’t that what capitalism and America was founded on and continues to do well on?
Think things through before you whine about this fee or that cost–there is an intrinsic value in everything you pay for! Unless people are holding a Big Mac in thier hands, I suppose it is hard for them to comprehend this (or we are just to lazy or dumb too!).

ATM’s that first appear in England in I believe 1967, were designed and placed specifically to reduce the cost of human tellers. The bank is saving pretty good money by keeping less tellers and by having smaller lobbies for smaller waiting lines. A busy ATM can easily process 50 customers per hour or about 500 a day. Think how many tellers you would need to do this job.

Even when you withdraw money at other banks’ ATM, and your bank needs to pay them a small fee for processing, it is still a saving for your bank.

On the other hand, the bank or a grocery store whose ATM is used by you to make a withdrawal is not really loosing much as it gets reimbursed by your bank. So it is a win-win situation for both banks and for you. Charing for ATM transactions is nothing short of double dipping.

However, the market is such that it allows banks to make additional penny, or $3 on a transaction. Rather unethical if you ask me but what can you do? That’s the market and if the consumers are willing to pay the fee, the banks will keep those fees high.

There is a price to pay for every convenience there is. When was the last time you were forced by an ATM machine to use it? you guessed it right. None.

So the fee to use the ATM other then your own banks ATM is reasonable and dictated by the consumer not by the banks.

These fees need regulation.
In Illinois the only regulation we have is that the ATMs need to have a physical sign displaying fee notices as well as a screen to ask the user if they accept the fee. Other than that there is nothing preventing any ATM owner from charging as much as they want. Some ATMs in Chicago charge as much as $15.00 per transaction.

And there is no consumer protection against it. This is free money for banks and ATM owners. The idea of charging even 10% on a $20.00 withdrawal is unethical. It’s our money we are taking out why should we have to pay to do that?

When they first started putting up ATMs we were told how this was going to save the bank a lot of money and reduce the cost to the consumer. My bank even offered a special free account for customers who NEVER came to the teller’s window. I have not had an ATM card since they first started charging 50 cents per withdrawal because I don’t understand why I should PAY the bank to reduce expenses.

It’s not capitalism, it’s bad business. BOA is terrible for their customer service, so don’t expect them to provide a useful service at a moderate price. Nickel and dime.

I’m working on phasing out my BOA account for companies like Compass (refunds fees w/ a receipt and won’t charge on their end) or Washington Mutual. After opening an account with WAMU, I feel like my banking is in heaven. Just wait for companies like BOA to lose enough customers (it’ll be slow ’cause the switching costs are high), but in the end, it’ll be too late.

Here’s a question for you…

Does anyone think they should be able to go into a bank where they are not a customer and use a teller to make a withdrawal on their account? Probably NOT.

Then why do so many of the above posters think they have the right to use a bank ATM where they are not a customer for free? Does anyone else remember that when the banks first started using ATMs many, many years ago you could not even use another banks ATMs, you had to go to your own bank.

It is a complete convenience to be able to use a bank ATM where you are not a customer. You pay a fee for that convenience; whatever the market will bear. Anyone who pays a fee to their own bank to use their own bank’s ATM is an idiot and with a little shopping around could easily find a bank that would not charge such a fee.

As a customer of a bank I should not be charged a fee to get to my money. If I am not a customer of a bank and want a cash advance the sky is the limit.

In the past 12 years, I have only had to use an ATM one time, and that was because I was carrying an employer credit card, and had to give cash to employees. I have never been at a place that I couldn’t use my debit card as a credit card, in fact, if I carry cash, it is a rarity.

The fee must be right if people are willing to pay for it. The banks would charge $20 per withdrawal if they could get away with it, but they can’t because nobody would pay it. Let’s quit all of this hand wringing and let the market work its magic. If enough people don’t pay the fee then the price will come down. There is no constitutional protection against high ATM fees or anything else for that matter. So… in short get over it and don’t use the service if you don’t want to pay for it.

Credit Unions are the way to go ! We love ‘em ! The big banks hate ‘em !

I’m an American who has lived in the UK for the last 4 years and just the idea of $3 ATM fees is blowing my mind. Not once in my time here have I come across any ATM fees, ever! Now they aren’t on every street corner like they are back in NYC and there are none in the corner shops, but still, I can go to any bank ATM, regardless if it’s mine, and use it free of charge. It rules! Next time I visit home I will definitely be taking my money out before leaving the UK!

Not only do I not like ATM fees, which are exorbitant, but I also dislike being charged “foreign currency conversion fees” when I do transactions out of the country. I frequently travel to Canada and it’s not safe to carry a lot of cash, so ATMs are convenient, but with about $10 in extra charges, it becomes increasingly less worth it!

I am confused as to why people think they are ‘entitled’ to free services at a merchant where they do not have a relationship? If I CHOOSE to use an ATM from a bank where I do NOT have an account, I expect to pay for that service. In many instances even when I do have a relationship I expect to pay for services.

Last I checked we still had choices of where to bank, where to withdraw cash, where to buy gas, where to buy groceries and so on. If you don’t want to pay ATM fees, then just go to an ATM where you bank and avoid the fees.

Why should any bank susidize banks that elect not to invest in infrastructure and technology? We have the choice of paying ATM fees or not, and the last time I used a foreign ATM there was nobody standing there with a gun to my head, I CHOSE to pay for the convenience of that particular location.

Let the marketplace set the price. Don’t like the $3 fee, go to your own bank for cash and don’t pay it.

Generally, when I need to use a non-BoA ATM, I am somewhere remote enough I am forced to pay a fee anyway. BoA also has a deal with some banks in Asia and Europe (Barclays, BNP, etc.), so I don’t pay ATM fees anywhere! It pays to be a customer at one of the world’s largest banks with a large ATM network. It is amazing to me that people still wait in line at banking branches. Who has time?

What bothers me about BOA is the crap that they want better service for their customers meaning fewer non-banking customers using their ATM machines. The cost to maintain these ATM’s has got to be a fixed amount. If fewer non-customers go to these banks…someone has to pay to maintain the ATM’s. Eventually BOA customers will have to pay. If you have 10,000 people paying $2.00 that’s $20,000. If they force half the non-customers away, they’ll have 5,000 people at $3.00 which is only $15,000. Remember…they want to chase non-customers away.

God damn blood suckers!

They will bleed our accounts dry and then charge us a penalty when our account balance goes too low.

This is their business though. To make money from us.

All I can say, I wish I thought of it first.

First of all let me reiterate that banks are a for profit institution, there first obligation is to there shareholders, employees, and there OWN customers. All these people that crab daily about banks charging them a fee need to understand if a fee is being assessed it is for a reason (using a non bank ATM, overdrawing your account, etc…) Major institutions such as Chase, Wells Fargo, and Bank of America did not get that way by making everything free for everyone, this is one of the major problems with this country today that everyone believes they should be handed what every they want on a silver platter and for FREE. Guess what people life does not work that way, maybe you should take a few hours a week out of your busy schedule and manage your finances a little better. And if you are upset by a fee at an ATM simply DON’T USE IT………

I use an out of state Credit Union so I have not no local free ATMs. I rarely use ATMs to get cash except when I have a need for large amounts of Cash ($200-400). Then then surcharge amount is a reasonable percentage. For small routine amounts of cash, I use my debit card in place of the credit card I normally use to obtain the cash for free at the grocery store (most major chains let you get at least $50) or the drugstore. By using the debit card once or twice a week, I am able to get the cash I need (usually I use credit card for most purchases as a convenience) without paying ATM fees.

It’s fees spelled G-R-E-E-D. The charges bear no relationship to the costs, but are merely another effort to “churn up” charges and fees on an unsuspecting public. Many people I know just shrug and pay the fee. They don’t see it in terms of a percentage of their withdrawal – which is often huge.
Simply put, banks are getting away with it because they can. The old silent majority is still silent and doesn’t realize they do have a choice.

The question to be asked is ‘Who’s money is it?”

Comments such as “Why do I have to pay a fee to get my money” ignores that fact that it is not their money. Expecially if you are a non-customer of the bank that owns the ATM. Essentially the bank is saying, ‘this ATM is for the convenience of our customers, but for those that are not our customer we are willing to sell you some money.” The cost to buy the money is the convenience fee.

It is easy to avoid the fee. Either open an account at that bank or go to another ATM

This is similar to the toll booth problems. The promise is that when the road is paid for the booths will be removed. You will never see these rates come down.

It is not right to charge fees for ATM withdrawals. After all it is your own money and banks should pay you for holding it and usuing it to make money through loans and other means. I think that if this goes on people woould stop keeping money in the banks and keep cash at home in iron safes or in the form of gold.
G.S.Banerjee
India

Why is it that anyone who makes a profit is ripping someone off? I don’t go to Starbucks because it is a ripoff so don’t go to the ATM if you don’t like the price. Have any of you who are complaining ever refused a raise? Didn’t think so and of course your raise is included in the price I have to pay. Get a life if this is the most important thing in your day!

I belong to three credit unions abd do not use a bank at all. My primary credit union belongs to a network of credit unons that provide their ATMs to me at no cost. I belive that network has in excess of 26,000 ATMs.

As far as banks “needing” to produce income from their ATMs, BUNK. The banking industry is the single most profitable industry there is, including oil and pharmicuticals. So why would you expect anything less than the banks best effort to generate income anyway they can?

Finally, we consumers fail to think. If you must cary cash, find a source that won’t fee you silly, and if you must use an ATM, get enough cash to delute the sting of the fee.

If you do not like the higher fees, then swith to the mega-bank that has 15,000 ATMs nationwide. Why should banks NOT charge people a ton of money to use their ATM if they are not even customers?

Open an account with US Bank, no ATM fees! They’re the best bank ever!

Of course B of A would lead the way with higher fees. They are always the highest for anything, with the worst service (speaking from a former personal and corporate client). It’s amazing so many people stay with them.

A better choice is banking with a Credit Union – now open to everyone, usually have better rates for loans,CD’s,etc. and have a Co-0p network where you can use any CU ATM for free. No charges from either side.

If you are one of the many that complains of the fees then you should be paying even more. Common sense people. I withdraw from an ATM I pay so I withdraw from my own bank free of charge. Is that so difficult to do or do we need the federal reserve to help us with this other type of poor money management skills just like those smart home-buyers

I recall when B of A installed ATMs at my bank in So. CA. in the late 1980s. They came down the line of customers waiting for a teller and handed out applications for an ATM while explaining how much more convenient it would be for customers and how it would enable the bank to lower costs and charges. I saw it at the time as a way of getting rid of human tellers which would eliminate millions of entry level jobs just at a time when the job market was drying up. I also suspected that when they had got us thoroughly hooked on the convenience, they would jack up the fees. There is no way that the banks can justify the charges. This is simple gouging, much the same way a drug dealer gets his clients hooked and then keeps them on the string.

Etrade bank will refund any fees from any ATM. I’ve been using them for years.

They screw you at the ATM…

If you don’t like the fees, do what I do. Don’t use ATM’s. I keep a credit card for occasions when I don’t have enough cash on hand. Pay off the card at the end of the month, no fees of any kind. Problem solved.

Listen People,

Want to send a message to the banks?

JOIN A CREDIT UNION (NON-PROFIT ORGANIZATION)

This is the only way to show the banks that we are all tired of ALL fees!

ATM users are paying for a service. If you think the cost for the service is too high; do not use the service. Simply walk in the bank every payday and withdraw all of your available funds. When your cash is gone, walk in the bank again…

Yes, I have always seen ATM fees as a rip off! I would think the savings of the ATM over a bank teller’s salary and benenfits would more than outweigh the cost of the “transaction fees” (which I would guess are far less than the 2-3 bucks they charge you. And we are not talking about 1 bank teller but 3 tellers a day, 7 days a week.

The banking system is out of control and is second only to the medical billing fiasco in being outrageously expensive. Banks charge fees for every service they offer (many of which used to be free) while paying 2 to 4% on saving and charging 28% on credit cards. Banks are becoming the LOAN SHARKS of the 21st Century!

1.use the banks ATM’s 2. go to walmart or any of a gazillion supermarkets,drug stores etc and buy something and get cash back for ZIP 3.pay the fee if you are too stupid or lazy to use steps 1&2 above4. I have had a ATM/debit card since day 1 and NEVER paid a fee, also had some one use my card 8 states over and recieved a credit same day for the fraudulent purchase5. QUIT your BITCHIN

I joined a credit union which doesn’t have nearly as many ridiculous fees. It also has a deal with other credit unions that we can use any of their ATMs with no fee. And they don’t charge a penalty for using any bank ATM, I would just have to pay the fee the ATM’s bank charges. If you have a credit union in your area, it’s worth a look.

It’s funny to see the bank ads for “free checking,” “totally free checking,” “really free checking,” “absolutely 100% free checking,” and “no, we really mean it this time, completely and totally free checking”. It’s as if we no longer trust that “free” really means “free.” I can’t imagine why that would be.

How did banks ever manage to make money for so many years without all these fees?

BOA spokeswoman Betty Reese said the higher fee, which only applies to non customers, is designed to improve access and convenience for its account holders using ATMs at its branches- reducing traffic at its machines.
Boy what a croc of crap that is.
BOA you got to be the greediest bank out there if you think we as consumers believe that. You are doing nothing more then insulting our inteligents by stating such a stupid reason for the fee hike.
If you want us to to believe what Betty Reese states to be true ,then why don’t you return your part of the 4.5 Billion dollars that ATMs rip off from people and give it back to your depositors? Or better yet give it all to Charity. That way you are expediting the lines at your ATM’s and doing something good for people in need.

Another shot to destroy the middle and lower class in America. The poor who consistently run low balances will use these atms take out all there money get charged $3 causing overdraft and another $25-$30. When they get paid again through direct deposit because that was forced by there employer they don’t have enough money to pay rent since they just lost $30. So that $3 fee caused some family to be homeless.

Yes, most ATM fees are excessive, especially when you consider that a bank needs less employee interaction. This translates to the banks as paying no employee salary, no matching Soc. Sec. contributions, health and/or life insurance, no sick leave or vacation payouts, and no contributions to an employee 401k or pension plan.

As for the $15,000 a year to maintain these machines as outlined in the article? Oh please! First of all I don’t believe it for a minute, and secondly, even if it were that much the thing would be self sustaining at 41 transactions per day (which is not much by ATM standards). So the bank still saves how much each year by not having to pay all of the above mentioned costs associated with a human employee?

Rotten Crooks! Ah, but such is our free enterprise system. The thing is, you can make other arrangements rather than using an ATM. Just plan ahead – or press ‘one’ for English and select ‘yes’ that you agree to pay the $2.00 fee.

The fee is absolutely fair !! People running around unorganized and hitting the ATM not related to their own bank all the time, are disorganized and rediculously out of control. I don’t want my ATM to need extra maintenance becouse they use it all the time !! Emergencies, for all of us usually incur some cost. On the few occasions (maybe twice a year) when I need money and cannot access it any other way, I take a large (usually $300) withdrawal, BECAUSE I NEED THE MONEY !!! Tell those poeple to get their lives under control

Charles Schwab investor checking gives you Unlimited ATM Fee rebates for using their ATM cards on any ATM machines worldwide and also the yield is 4.75% APY and no minimums.

Of course it’s a rip-off; after all I already pay a fee to get the ATM card. But the way around it is to use the ATM card for purchases only and get the cash from the bank or credit union of your choice. That way I don’t have to pay those ridiculous fees and still have the use of the card. The use of an ATM card to pay for purchases works the same as writing a check, and I don’t have to pay the fees. The only time the fees are charged is if I use the ATM for cash withdrawal.

I simply go to a convenience store (Safeway, CVS, Rite-AID), then purchase something for under $3.00 which there is always a need for, use my debit card and take cash back. Rather than pay the banks, I buy something I need and accomplish the same thing. I save the withdrawals with fees for those times when I need cash that I hadn’t planned for under unusual circumstances.

First we remove bank tellers becasue they cost too much, we give you ATM’s for free. (only $15,000 per year compared to Bank Tellers) Good money saving idea. Now we charge for the ATM, but not the Bank Teller (yet) to make more money, not to recoop cost. That is why ATM’s were installed in the first place to reduce cost. Limit your use of these cash cows. Use your buying power as a consumer wisely.

I don’t remember the exact figure, but I saw the cost several years ago to the banks and it was less than 50 cents to process the actual ATM withdrawal. They seem to have all agreed to not disagree. Perhaps someone should do an independent analysis of the true cost again and hold their feet to the fire-if it costs 32 cents, force them to justify a $3 fee.

I actually work at a small community bank where our ATM fees for non-customers are $2. It does cost the bank a great deal of money for ATM’s, not to mention the fact that banks generally eat the costs of fraudulent transactions completed on debit cards. ATM and debit cards cost banks money to produce and maintain for customers. Now, i’m not saying that we don’t make money off of them, I’m just saying it does cost money. Banks are for-profit companies. With the decline in lending due to the housing market, some banks feel the need to increase income by feeing people more. I don’t necessarily agree with this philosophy, but that’s why I don’t work for a larger institution.

Do you really think that banks invest in ATM technology, buy or lease space for their ATMS, and enter into service contracts to assure that ATMS always have cash to dispense just so a non-customer can get cash whenever he feels like it and not have to pay a fee??? Give me a break!

We seldom use cash machines other than the ones at our bank, no fees that way,

Did you know that BOA credit card come ready to use, no validation required, boy is that dumb, If I was a mail thief, that is card I would look for.

For those of you who rant and rave about bank fees, guess what, banks are FOR PROFIT companies. If you don’t like it, the market has plenty of options from which you can chose.

Fees are fine – you are paying for a convenience. We pay higher prices at convenience stores like 7-11 because they are in fact convenient and the availability and late hours are worth it to us. Bank fees are your choice. I’d find a bank with a large network of ATMs if you have a wide geographic are need – they are not hard to find these days.

The fees are more annoying than anything. They are one of the main reasons I signed up for E-Trade’s max savings and max checking accounts. On top of the great rates you can use ANY ATM for free…they even refund the ATM’s fee!

Some banks charge a fee for using a live teller, and some for using an ATM even if you are a customer of the bank. I understand there is a cost and banks are in business to make money. Unchecked this could get real ugly for people. Don’t use banks that charge its own customers and use some foresight when planning on having cash. Plan ahead and save your money.

I belong to a club which provides unlimited use of its facilities as long as I pay a monthly fee and abide by its rules and regulations.
Additionally, this club offers use of its facilites to non-members for a daily fee determined by the club management. Naturally, the fee is designed so that it is more economical to be a member than a non-member if you are a frequent user.
Why is a bank charging a fee to non-customers any different?

Give me a break, if you’re dumb enough to consistently withdraw money from another bank’s ATM, you deserve to pay.

All companies and business should charge whatever the market will bear – you already provided a partial list of consumer alternatives – if a consumer doesn’t agree with the fee choose one of the many ways to avoid the fee

When in a bind for cash I don’t mind paying the fee – to limit such fees will reduce the ATMs available and restrict my oppertunities when needed

IT IS AN ABSOLUTE RIP-OFF, BUT AS LONG AS TOO MANY PEOPLE USE THE SYSTEM, WHY SHOULD THEY STOP MILKING THE ATM COW! IT IS ONLY IF PEOPLE STOP ACCEPTING AND PAYING FOR SUCH SERVICE THAT THE BANKS WILL HAVE TO RE-THINK.
NOTHING COMES FOR FREE – WHEN BANKS STARTED OFFERING “FREE CHECKING” I WAS WONDERING WHAT THE CATCH WAS… YES,YOU SAID IT!

I never use ATM machines. The fees are definitely a ripoff but they don’t affect me.

Go figure. People will gladly pay $5.00 or more for the convenience of having a hot cup of coffee handed to them instead of flying to Brazil, picking, roasting, grinding and brewing it themselves… or pay $3.50 for a gallon of milk to be at the ready instead of driving to Wisconsin, raising, feeding and milking the cows yourself… but they balk at paying $3.00 to have cash instantly at their fingertips instead of going to the Bureau of Printing & Engraving and weaving, inking and cutting a stack of twenties for themselves (how would you pay for that, cash?). No one forces you to use the ATM. Take on some personal responsibility. Plan your cash use more wisely or stop whining. Just in case you didn’t realize it, banks are businesses, not charities.

I have learned over the years that planning is key. Emergencies do happen (and ATM machines are great for emergencies), but I use my credit card and charge my expenses, and pay off the balance monthly before the interest hits.

I am down to going to the ATM to once or twice a month, and I go to my bank for the withdrawels.

I think it is a matter of good planning, – if you plan properly, the extra fees won’t be a big deal.

Of course it’s excessive! That’s why I’ve never paid an ATM fee and surcharge in my life. I only keep about $40 worth of cash in my wallet at any given time. I always pay with credit card and pay it off every month. When I go below $40 I go to my own bank’s ATM and withdraw money without any charges. There’s actually one advantage of ATMs… when I travel to Europe I like to use them to get foreign currencies. But then of course I usually withdraw about $500 dollars at once and then it’s worth it.

These fees for ATM will never be done away with or lowered. Our “People in Congress” with thier hand ever extented, will see to that. Our Congressional body contains some of our lower citizens. Restroom patrons included.

$3 is excessive

Absolute Outrage !! The costs to a bank are mere pennies.They are ripping off the public and the regulators are allowing it to happen.If you told me the profit was 20% above the cost I could agree but they are making 400% profit on a transaction.Steve Slocum in Carolina.

TD Bank North has no ATM fees whatsoever, if they’re available in your area!

I appears that the banks are trying to recover the costs from a smaller group of users. By not charging there account holders the banks are charging non-account holders a larger surcharge. At a 15% premium to get cash people might be better off turning to a loan shark to get money.

As a former Bank of America employee many years ago, I remember the long teller lines for basic deposit and withdrawls. When ATMs were new, I also recall the bank promoting and encouraging the use of these machines to help reduce wait times and bank costs thus being able to keep service fees low for the customers. Now Bank of America greases their pockets on both ends.

My bank is a member of Allpoint which has over 32,000 Surcharge free ATM’s why would I want to us BOA’s smaller network???

Like the absorbadebnt taxes we pay so to are the ATM fees ridiculous. That’s capitalism.

This story is really just a lot of hype. With so many merchants taking debit cards, it’s possible to go days without needing actual cash.

I think these fees are excessive. years ago, Banks pushed everyone to ATM’s in order to reduce personel costs by reducing tellers. They’re more than paying for themselves without being an additional source of revenue from the customer.