ATM Fees, What's It Worth To You?
Nov 02 '01
The Bottom Line ATM fees are there for the same reason plumbers are there charging you for using to much toliet paper.
There are these shoes you just have to have at the really expensive, really popular department store. What do you do, head straight for the nearest ATM and take out the money you need to cover the shoes. You buy the shoes, take them home and then wear them everywhere, they really are a cute pair aren’t they and they really do go great with you jacket.
Then it hits you, your statement comes and you see the fees. You got charged twice for using the ATM only once. This is outrageous. How can they do this! We’ll maybe its time to think this through a little.
Banks put those cute little machines called ATM machines everywhere. They want you to be able to get your money cause they like you, well, actually it’s cause they like your business. Banks like everyone else have to make money to survive, and how do they do it, well one way is to do what ever other business does by providing a service. Yes, using the ATM at the mall or anywhere else is not a right, it’s a privilege. Why do they charge the fees, because they are doing a service for you? You think the plumber fixes your toilet when you use way to much toilet paper just cause they think you have cute kids? No they provide you a service and in return you give them those little green pieces of paper that I can never seem to get enough of every two weeks even though I hand out thousands of them everyday.
The bank works the same way. They allow you to use their ATM and then they charge you for that service. If the ATM belongs to your bank then you get charged only once. They gave you money form your account; you gave them a buck or two for doing it. Pulled out a few bucks from another banks ATM? You got charged twice not cause your bank hates you for choosing another ATM and feel mistreated but because they had to pay the other bank your money to cover what was taken out. Think of them as handling fee’s cause when it comes down to it that’s what they are. Your bank and/or the other bank did all the work for you while you were buying those shoes. You didn’t have to leave the mall and drive to the bank or anything. The transactions over you paid for your shoes and the bank(s) got a few bucks for doing you a service.
Still don’t think you should have to pay these fees? Then don’t pay them. Get a debit card. Use it like a credit card. It’s the same thing as writing a check only there’s less work involved. Many places will even let you take cash back. There ya go, buy something get a few dollars back for that 24oz Granita with French vanilla syrup, and don’t get charged ANY fee’s. Just remeber to always sign the back. If you choose to pay as credit, still the same as debit only you sign for your purchase unstead of entering in your pin code, watch the cashier if he/she doens't look at the signature, ask her/him to. It makes them turn beat red in the face for being caught be careless with others money.
Keep in mind that the ATM machine outside the bank is free (at all places I know of, some may be different). If you refuse to get a debit card and don’t want any fees, by all means drive there.
These fee’s may seem like a lot to you but consider the service for what it is, fast cash when you need it most. OH god that sounds like an ad I once saw.
Oh, and those shoes, they are so out of style ;)
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