Here are some ways to think or plan in advance to try and avoid those ridiculous ATM fees:
Try to only use your bank’s ATMs– Obviously, this is where you want to start. If you can avoid using non-network ATMs and only use your banks, you can avoid fees on your ATM transactions.
Carry more cash/Take out enough cash or more cash when you do visit an ATM– Do you ever find yourself taking out just the minimum you think you will need, when you know that you will just have to make another ATM trip in a few days? I know I have done this maneuver many times. Instead, try taking out what you think you will need for a few days to a week- it will save you trips and from getting caught at a non-network ATM.
Look for a no fee ATM such as Allpoint Network of ATM’s– If your bank uses a network like Allpoint, you can avoid fees by using one of their locations, which are often in convenience stores or gas stations. I have an checking account at ING Direct, which uses Allpoint, so it comes in handy sometimes for me.
Get cash back when making a debit card purchase– I’ve been using this one more lately-stop in a local drug store, such as CVS in my area, make a small purchase, and get cash back. It works well when you aren’t close to one of your bank’s ATMs.
Change banks to ones that don’t charge fees– Some banks, like ING DIRECT Electric Orange Online Checking or Perkstreet FinancialSM Online Rewards Checking don’t charge fees to use ATM’s and have participating fee-free ATM networks ( like Allpoint, as mentioned above), making withdrawing money from a network ATM totally free. Also, Some online and and even some bricks and mortar checking accounts have started reimbursement programs to pay you back for the ATM fees you incur withdrawing money- although this is more common with online checking accounts.
Use your debit or credit card where possible– There are still places that are cash only, even some restaurants and other small businesses. But most places, you can use your debit card, so if you can, go ahead and do so.
Good luck and share your tips below.
Ways To Avoid ATM Fees was originally published on elev8.com
