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Banks Picking Your Pockets Again, Charging $5.00 For ATM Withdrawls!

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posted on Mar, 20 2011 @ 07:22 AM
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A while back I posted a thread about banks thinking about charging an annual fee of $30 for ATM cards. Now they're starting to charge $5.00 for withdrawals!




Get ready for big fee increases at your nearest ATM. Some of the nation’s largest banks are boosting fees on their automated teller machine networks. The new fees could be especially costly for people who withdraw cash from another bank’s ATM. Chase is now charging Illinois residents $5 every time a non-customer withdraws money from a Chase ATM. That’s in addition to any fees charged by the customer’s bank.



theweek.com...

www.chicagobusiness.com...

curiouscapitalist.blogs.time.com...




posted on Mar, 20 2011 @ 07:25 AM
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reply to post by WeRpeons
 


That's crazy. I haven't heard of anything like that happening in Canada. However, when you need a bank statement printed [ for people who don't have printers, like myself QQ ] - - they charge 5.00$ - - Accounts cost money too, depending on the type of account. Of course, it's like that everywhere, though.

I shall S&F to spread the word.


-Mike
edit on 20-3-2011 by HiMyNameIsMike because: (no reason given)



posted on Mar, 20 2011 @ 07:27 AM
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I saw a report on this yesterday, apparently there is an app you can get on you're smart phone that tells you where all of the free ATMs are in the vicinity.

Best bet is to deal with a credit union, f*** banks.

Also, Chase is charging Texas as well an additional $4.00 to withdraw.
edit on 20-3-2011 by CordDragonzord because: (no reason given)

edit on 20-3-2011 by CordDragonzord because: (no reason given)



posted on Mar, 20 2011 @ 07:29 AM
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This is why I don't have a bank account.

I don't trust them and they will bleed you dry of fees.

Screw that!

I use a Wal Mart prepaid VISA and I load it accordingly when I need to pay bills or want to buy something online.

I pay $3 per month and the same amount when I load money on it. I only load $100 or more at time so I don't have to pay the fee all the time.

So far this card has been great! I have had it for years and I use one for bills and one for online purchasing. I took it to Italy and used it all over, they didn't accept Amex.

People also need to learn to carry cash!!! I always carry cash and my card.

Banks suck!



posted on Mar, 20 2011 @ 07:30 AM
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This is starting to take the F****** Michael now! - I know I get charged £1.75 from a non-customer ATM machine here in the U.K, which still annoys me, but if I can't make it to another then I'm fine with it. But they will be more then likely raise the price here too now...

Jamie.



posted on Mar, 20 2011 @ 07:30 AM
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Originally posted by mblahnikluver
This is why I don't have a bank account.

I don't trust them and they will bleed you dry of fees.

Screw that!

I use a Wal Mart prepaid VISA and I load it accordingly when I need to pay bills or want to buy something online.

I pay $3 per month and the same amount when I load money on it. I only load $100 or more at time so I don't have to pay the fee all the time.

So far this card has been great! I have had it for years and I use one for bills and one for online purchasing. I took it to Italy and used it all over, they didn't accept Amex.

People also need to learn to carry cash!!! I always carry cash and my card.

Banks suck!


I've actually been tempted to open a few more bank accounts all over and go deep into debt, what can they do?
It's not like the dollar will be around much longer, lol.



posted on Mar, 20 2011 @ 07:33 AM
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Originally posted by CordDragonzord
I saw a report on this yesterday, apparently there is an app you can get on you're smart phone that tells you where all of the free ATMs are in the vicinity.

Best bet is to deal with a credit union, f*** banks.

Also, Chase is charging Texas as well an additional $4.00 to withdraw
edit on 20-3-2011 by CordDragonzord because: (no reason given)



You do realize a credit union is also a bank just with a different name.

Some credit unions are good but I have seen the same crap from them as other major banks.

There were 2 small local banks where i use to live and they were GREAT!! However due to all the big banks taking over they were closed down. It sucked because this particular family bank really did care about their customers and didn't charge fees for anything!! Their banking was free and they never charged overdraft. If you had something coming thru and it would bounce they immediately contacted you and let you add money to your account or they would with hold the transaction until your next pay day so you could more money in to cover it. This bank was awesome and thank to BOA
they were forced to shut down.



posted on Mar, 20 2011 @ 07:47 AM
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reply to post by mblahnikluver
 


The one I'm going to bank with is family owned and they don't charge hideous overdraft fees, if you can't pay for something they have a way of blocking you from buying it so you don't overdraft.



posted on Mar, 20 2011 @ 08:03 AM
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On various occasions I've been forced to use Chase, Citibank and HSBC for accounts. Considering they aren't relatively ubiquitous institutions like Wells Fargo, BOA, etc, they don't have outlets everywhere. Having said that, in most of my experiences, a fee of 3-5 dollars is a bargain compared to the gas necessary to get to one of there ATM's.

And for what it's worth, that charge is usually due to the "broker" that sets between one bank and another: Star, Interlink, etc., though many banks don't pass that 3rd party charge on to the user, quite a few do, in a similar way that some stores won't accept AMEX, Discover, Diner's Club, etc. due to the fees charged by the credit company or how the cost of fuel is sometimes based on credit or cash.

So, if you live in or travel to the boondocks, withdraw any cash you may need when you're near your institution's service. Otherwise, don't complain about paying for convenience when you lack the foresight to anticipate your needs. And if necessary, pay for things on credit / debit and avoid those charges for cash withdrawal altogether.


edit on 3/20/2011 by abecedarian because: (no reason given)



posted on Mar, 20 2011 @ 08:08 AM
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my bank just changed my free checking acct, after 20yrs, to charge me $5.00 a month.




posted on Mar, 20 2011 @ 08:14 AM
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that's not all !!!
I closed out my account with BB&T Bank
a few months back. I actually went into
the branch in person to close it out.
And got my lil funds out and the service rep
said I was good to go.

Within 2 weeks, I got a monthly statement
in the mail saying that my account was
overdrawn because I had a zero balance
and they charged me the monthly $5.95
service charge. So now, I was in the hole
$5.95. They did not charge me an overdraft
on the service charge but they still charged
me the service fee. I went back into the
branch to complain and the BB&T Service
Rep said that they had lots of customers
just closed out accounts and were charged
the $5.95 service charge. She said it was
a computer error. They made a copy of my
statement and told me they would clear it
off. I was not about to pay BB&T Bank a fee
which I no longer had an account. The Rep
did not state how many accounts were
affected other than there were many.
That told me that lots of people at BB&T
were closing out their accounts. Just a
heads up of my experience. I don't use
any bank anymore.



posted on Mar, 20 2011 @ 08:16 AM
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Originally posted by fooks
my bank just changed my free checking acct, after 20yrs, to charge me $5.00 a month.





BB&T did that to me also.
I opened my account in 2008
and it was a free checking account
til around August or Sept. of 2010.
Then I noticed they started charging
me a $5.95 service fee every month.



posted on Mar, 20 2011 @ 08:19 AM
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Here in Australia I get FREE withdrawals from ANY ATM as long as I draw more than $200. I love ING



posted on Mar, 20 2011 @ 08:21 AM
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Originally posted by abecedarian
On various occasions I've been forced to use Chase, Citibank and HSBC for accounts. Considering they aren't relatively ubiquitous institutions like Wells Fargo, BOA, etc, they don't have outlets everywhere. Having said that, in most of my experiences, a fee of 3-5 dollars is a bargain compared to the gas necessary to get to one of there ATM's.

you do know that gas stations accept cash
don't you ????
and they don't charge you $5.00 to use cash.



posted on Mar, 20 2011 @ 08:30 AM
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Originally posted by boondock-saint

Originally posted by abecedarian
On various occasions I've been forced to use Chase, Citibank and HSBC for accounts. Considering they aren't relatively ubiquitous institutions like Wells Fargo, BOA, etc, they don't have outlets everywhere. Having said that, in most of my experiences, a fee of 3-5 dollars is a bargain compared to the gas necessary to get to one of there ATM's.

you do know that gas stations accept cash
don't you ????
and they don't charge you $5.00 to use cash.


Nor do they charge me to use the card as credit (though arco doesn't accept credit and thus forces it to go as debit and charges $0.45 for the transaction). So I don't exactly see you're point; I would spend more than 5 in gas to get to one of their ATM's so... the $5 charge is a bargain if I really must have cash at that instant and have none in my pocket.



posted on Mar, 20 2011 @ 08:36 AM
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don't keep your money under the mattress it's not safe they said...bring it to the bank
but they didn't said the banks would steal it pieces by pieces



posted on Mar, 20 2011 @ 08:51 AM
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Problem is, if you have debts or bills from another state.
If you have to use checks, they charge a fee.
If you have to use debit/credit, they charge a fee.
And if you can use a money order, you will pay a fee.

Nothing in life is free.
They want it that way.

Want to get rid of all your bank accounts?
Good luck getting credit, a loan, or a car.

To me the answer is simple.
If you see fees that you don't like, then move your money.
But if you don't need an ATM, then don't use it.
Carry cash.

If you don't have enough cash to buy something, you don't need it.

Oh wait....
That's exactly why Americans are so far in debt.
Because of some sort of 'need' to buy things we have no need for.
Then again, I see consumerism like a religious occult.

Once you realize that there are people that want you to be in perpetual debt...
You change your thoughts on why things are the way they are.

There's a reason for everything.
No coincidence.





posted on Mar, 20 2011 @ 09:11 AM
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Go to Home depot and buy a little something you need then go thru the self checkout and get up to 50$ back with no charge. Thats what I do



posted on Mar, 20 2011 @ 09:34 AM
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This news article just says they are charging non-account holders for withdrawing from their ATM's. It doesnt say you will get charged if you have an account with them. And while that i perhaps exorbitant, it seems well within their rights to charge that. It's not like anyone is forcing you to withdraw cash from another bank's ATM.

Don't like it? Go to your own bank's ATM. Simple!



posted on Apr, 11 2011 @ 02:45 PM
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Haven't they been doing this for a while?



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