It adds up, as some banks even charge up to $3, and an ATM in a popular captive location like an airport might charge even more to withdraw money. Bank of America increased its surcharge in the summer of 2007 from $2 to $3 for non-BofA customers that withdraw cash from their network of ATM machines.
With a little bit of research, however, you can find ways to withdraw money from an ATM without paying that fee...
Best bets:
1. Draw from your own banks ATMs, provided they don't levy charges for their own customers.
2. Find a network of free ATMs. Moneypass, for example, is an ATM network that does not add any charges. Here's a few pointers:
- Moneypass No Charge ATM network
- International Bank's Network of Free ATM's in the U.S. and Mexico
- CO-OP ATM Network Locations - If you have the CO-OP logo on your debit card, they have locations in thousands of 7-11 stores
- Allpoint Free ATM Network - Allpoint claims to be the largest surcharge free ATM network in the U.S.
3. Lastly, use the "cash back" feature offered by many retail stores
You can get cash back when you make a purchase with your debit card. No surcharge, and one less trip to make.
Related Tips
Re: ATM machines with no surcharge ... don't pay that ATM ...
I bank with USAA FSB and they have only one office worldwide, but have many customers. Their only ATMs are at their brick and mortor place in San Antonio. They will reimburse bank customers up to $15 monthly for using ATMs that are not theirs. They just add the amount to your checking account monthly.
San Antonio-based USAA Federal Savings Bank, with $27.3 billion in deposits, is the 28th largest bank in the world, American Banker reports.