4 Easy Ways to Save on ATM Fees
Banking machines sure are convenient. So convenient, in fact, that some dopes spend scads of money on fees. Then they turn around and whine about not having any money to save. Dang it!
Often when I’m rifling through some dude’s or dame’s bank statements, I’ve got a highlighter pen in hand and I’m circling the money being wasted on bank fees. Inevitably I find it for ATM withdrawals: the $20 transaction that turns into $21.50. I’ve seen bank statements with $50, $70 or $90 in bank fees, mostly caused by overuse of ATMs. And these are the very people who claim they can’t find $5 a week to save.
What is with people using ATMs like a wallet? I’ve seen people go to the banking machine two and three times in one day, paying anywhere from $1.50 to $4 to get their hands on a twenty. Lord love a duck!
Want to save money on ATM charges? It isn’t hard. Sometimes it takes a little planning, sometimes a little self-control. Always it takes the desire to not waste money on stupid stuff.
Use your own bank’s ATM. Hardly rocket-science, right? So why don’t people walk the extra 500 metres to get to their own bank’s machine? Lazy? Or just stupid? Or is it that the ten-minute walk isn’t worth the $1.50-$3.00 you’d save?
Take out enough cash for a week at a time. Or two weeks, if you have enough self-control and won’t blow through the money. The less often you have to visit the ATM, the less you’ll have to pay in account fees. Plan ahead and you can have what you need at home, and carry only what you need in your wallet.
Opt for cash back. If you run short, instead of hitting the ATM, ask for cash back while you’re out shopping with your debit card.
Choose a bank or account package that eliminates ATM fees. Yes, they do exist. You might have to do some shopping around, but that’s got to be worth the hundreds a year you could save. And the larger your bank’s ATM network, the more likely there will be one where you are.
Don’t confuse a credit card advance with a debit card withdrawal at the ATM. If you stick your credit card in an ATM and ask for cash, the machine will give it to you. But that’s a cash advance, not a cash withdrawal. And the moment the money hits your hot little hands, your credit card will start charging you interest. Never mind the hefty fee that often comes with the cash advance.
If you are willing to spend so much as a dollar in ATM fees, don’t tell me you don’t have enough money to save or do anything else you want to do. Paying ATM fees is a complete waste of your money. STOP IT!