ATM Fees and Bank Fees Rising through the Roof!
A few months ago Bank of America raised the ATM fee for non -customers to $3.00 per transaction. Prior to that the fee was generally $1.50-$2.00. Bank of America has one of the largest networks of ATMs with 19,000 nationwide. There are approximately 400,000 ATMS in the US. Now other banks are joining in with the higher ATM fees for non customers. This is on top of your own bank surchase for using an ATM from another bank. That could raise the fee to $5.00 or more. My suggestions are to use only your own bank ATM and consider a credit union or other bank that rebates ATM surcharges. Some of these credit unions will refund the $3.00 out of pocket ATM fees and not charge any additional fees. Usually they have a cap of $20.00 You can use your ATM/debit card at a grocery store and get cash back usually up to $100.00. Walgreens and other drug stores will let you get up to $50.00 or so approx. Now banks are raising NSF/bounce check fees. this is a huge moneymaker for banks. One bank executive quoted in the Wall St Journal this weekend said he is always looking for new revenue sources as he raised his NSF fee from $32.00 a check to $35.00 per check. The answer to this is have a checking account that has an overdraft feature from a savings account etc, and dont write any bad checks. My suggestion is to use a bank with a good online system and really use it to manage checks and bills without hand writing many checks. Quicken or Microsoft Money can also help you track investments/savings and checks. Don’t let these greedy banks get the best of you, or have you pay for their losses on bad mortgage loans.
Tags: atm fees, bank fees, bank ripoffs, NSF checks
You can comment below, or link to this permanent URL from your own site.