Who Ever Said Life Was Fair?
May 21 '00 (Updated Feb 24 '01)
The Bottom Line Not Fair! Lobby for changes in law.
Nope! Nobody ever said it was fair. First the banks sold us on ATMs to save money on tellers. Now they want us to pay fees to use the ATMs. Once again they are trying to take more of our money than we would like to give them.
What can we do? Everything in our power to avoid paying them.
1. Write to your congressperson and/or senator. The courts have struck down state bans on ATM fees and it is now up to congress to pass new laws if this is to be changed. If we don't tell them what's important to us, they won't know.
2. Object! Write to the bank and tell them you don't like it and are shopping around for another bank.
3. Avoid using ATM's. When you do use them, take out larger amounts so you can use the machine less often. Many banks don't charge for purchases, so get that extra $20 or $40 you need while you are at the Post Office or supermarket rather than going to the bank. Use the card at the gas station and save the cash for your coffee and donuts.
4. Change banks! Some online banks and some credit unions with limited branches do not charge for ATM services. If you do change, let your former bank know why.
5. Other forms of payment. We can still write checks - and our bills will still get paid. Many banks who charge for ATM's still have free or low checking fees. There are programs like PayPal (we use it to send money to the kids at school) and Flooz that can send money without using the ATM. There's always the teller and the drive-up window, too.
Communication is a key element to change (but that is another epinion). Be sure that if you do some or all of these things you let your banker know! Even if you don't do anything, let the banks know you are not happy about the fees. We all have the ability to effect change in our society - we just have to do it!
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