do you think that ATM withdrawal fees are fair?
By sudalunts
@sudalunts (5523)
United States
September 20, 2008 4:59pm CST
Don't get me wrong, I know everyone wants to get paid for their services. But some banks are charging way too much to withdraw from their ATM machines. right now I am steaming at my husband, because I have asked him not to use a certain bank for ATM withdrawals. You guessed it, he did.
This bank charges $3.00, plus we have to pay the fees from our bank of $1.50. Therefore, i cost him $44.50, to withdraw $40.00. That is more than 10% of the initial withdrawal. We do not have much money, and it angers me that I have to pay that much. Gee, with $4.50, I could buy a gallon of milk, a quart of gas a loaf of bread and still have change left over.
What do you think, do you have issues with the fees banks are charging to use their ATM machines?
1 person likes this
6 responses
@LouiseKnittel (4764)
• United States
18 Oct 08
I hate the idea that they charge you to get your own money. I think I want to make interest off the bank, not have the bank make any money off of me..
@sedel1027 (17846)
• Cupertino, California
20 Sep 08
Wow that's crazy! I don't withdraw form any ATM often, but I am pretty sure that our bank doesn't even charge a "foreign atm" fee. May have to do with the type of account we have.
I don't have a problem with ATMs charging fees, but I have problems with banks charging a fee too. Almost makes sense for the "foreign" bank to charge a fee because you are taking money that their customers could be using.
@animegirl334 (3263)
• United States
14 Aug 09
Other bank's atm do overcharge a lot but withdrawing at your own ATM is no charge. My local banks charge bout 1.50 to 2.50 dollars which is still alot. Many times, I'll just walka couple of streets to find the ATM with my bank
@LouiseKnittel (4764)
• United States
18 Oct 08
Well, the only reason I like banks is the idea that I will get interest on my money. So if your charging me to get MY money. Then It really does not make sense to me to have my money in your bank!
So to charge me a large amount for every ATM withdrawal will just make you lose me as a member!
@adriantys78 (949)
• Malaysia
18 Oct 08
Hi Sudalunts, i personally feel that the amount charge for your case is really not acceptable. From the charges count, it is almost 11% of the amount you request. It is really not a small money. Currently my country just introduce the chargeable fees for ATM withdrawal, the clause is if the person have use the ATM withdraw more than 5 times per month, then a fees of $0.50 will be charge. For me, i do feel that the charge is not acceptable and the max amount per transactions is only $1500, thus normally i would prefer online banking, but another concerns is security. 
