ATM fees are one of those things that we all probably wish would fade away (except perhaps the owners of the banks), considering they usually run $2-$4 each time, possibly from each bank! Luckily, there are a few ways to avoid these fees.
The first is the obvious choice: Use only your own bank’s ATMs. Not one on your current daily route? Look into changing routes, or possibly changing banks to a bank with ATMs near your home or on your daily route. One caution though: Be sure if you decide to change banks for a more convenient location that you don’t switch to a bank with less features or worse interest rates/customer service.
A better choice? Skip the ATM and get cash back when you’re buying groceries or picking up something at the drugstore…any place that offers a cash back feature is a substitute ATM, without the fee. Another good reason to use this method? You definitely do not have to go out of your way to get the money you need!
Another option is to switch to an online bank that refunds its ATM fees (a new benefit, recently cropping up). A great place to find a bank with this feature is Bankrate.com.
With any of these options, you can save money on your bottom line every month. The money you save can be allocated to paying off debt or go into savings, because let’s face it, you weren’t missing it in the first place. It might as well be put to good use!
Tags: budget, Frugality, Money tips
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