ATM Fees ---- $5 !!!!!!!!

diamondx | Mar 20, 2011 | 92 posts since 2011

These crooks are trying to get in to your pocket again. $5 atm FEES have been discussed. THINK about it !!

If you are smart and withdraw $200 at a time --instead of 20 -- you will be paying the bank 2.5% to get to your money. If you have it in a bank earning the best interest rate out there right now --you will not earn 2%.

Now for the dummies that do a $20 atm wd - you are giving that bank 25 % --TWENTY FIVE PERCENT of YOUR MONEY to get YOUR money. !!!! You pay 5 to get 15 !

Stop by my house, sign over your paycheck and I will give you back your money all day long for only 10%. and you would still be getting screwed !!!

STOP GIVING YOUR MONEY TO THESE A-HOLES !!!!!!!

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Stewie | Mar 20, 2011 | 65 posts since 2010

I agree completely with the spirit of your post. However I believe your math is a little off. You said:

Now for the dummies that do a $20 atm wd - you are giving that bank 25 % --TWENTY FIVE PERCENT of YOUR MONEY to get YOUR money. !!!! You pay 5 to get 15 !

Actually, you pay $25 to get $20 thus costing you 20%, not 25%. It's still a lousy deal though!

darkdreamer4u | Mar 20, 2011 | 199 posts since 2010

Rather than getting your knickers in a twist, how about getting up and finding a bank that reimburses you any foreign ATM fees? There are many out there, online mostly - good luck!

darkdreamer4u | Mar 20, 2011 | 199 posts since 2010

Rather than getting your knickers in a twist, how about getting up and finding a bank that reimburses you any foreign ATM fees? There are many out there, online mostly - good luck!

me1004 | Mar 20, 2011 | 534 posts since 2010

Better yet, everyone stop using the ATM and go into the branch -- and see if the banks would rather pay a clerk to handle your withdrawal rather than pay no one when you use the ATM.

They not only should not be charging ANY fee, they should be paying you to use the ATM as an incentive for how much you save them by using the ATM instead of the clerk inside!

See the thread below this one about the big bonuses the bank CEOs are giving themselves -- all this while they insist how much money their bank is not making and so they need to institute all these fees! Your ATM fee is going straight into the CEO's pocket; clearly the bank doesn't need it.

diamondx | Mar 20, 2011 | 92 posts since 2011

I agree completely with the spirit of your post. However I believe your math is a little off. You said:
Now for the dummies that do a $20 atm wd - you are giving that bank 25 % --TWENTY FIVE PERCENT of YOUR MONEY to get YOUR money. !!!! You pay 5 to get 15 !

Actually, you pay $25 to get $20 thus costing you 20%, not 25%. It's still a lousy deal though.

You receive a 20 -- it cost you 5 to get it ---net is 15. cost is 25%

Stewie | Mar 20, 2011 | 65 posts since 2010

You receive a 20 -- it cost you 5 to get it ---net is 15. cost is 25%

$25 comes out of your account, you get to keep $20 or 80%. Cost is 20%.

diamondx | Mar 20, 2011 | 92 posts since 2011

You dope --- deduct the cost (5) from what you have in your hand (20) NET is 15.

You can not get 20 from an atm if you only have 20 in your account. (no fee atm's excluded)

If you get 20 for selling lemonade , you have a 20 in your hand but the ice cost u 5 ---NET is 15.

I hope you are not a cpa.

FIVE IS 25% OF TWENTY ---- FACT.

You look at as losing 20% and I'll look at it without the rose colored glasses.

Stewie | Mar 20, 2011 | 65 posts since 2010

You dope --- deduct the cost (5) from what you have in your hand (20) NET is 15.

You can not get 20 from an atm if you only have 20 in your account. (no fee atm's excluded)

If you get 20 for selling lemonade , you have a 20 in your hand but the ice cost u 5 ---NET is 15.

______________________________________________________________________________

So now I'm a dope? Perhaps, but at least I know that it takes more than ice to make lemonade!

diamondx | Mar 20, 2011 | 92 posts since 2011

You get the lemons off the neighbors' tree.

Shorebreak | Mar 20, 2011 | 4,035 posts since 2010

Need cash?

1. Make a teller withdrawal at the bricks and mortar bank or credit union.

2. Use an ATM card from an institution that reimburses fees.

3. Use an ATM card at an institution that doesn't charge fees for using it's own cards.

4. Request cash-back using debit card purchase at a store.

Why even bother with the bandits that charge fees? It's self-embezzlement.

niniss | Mar 20, 2011 | 62 posts since 2010

diamondx's calculation is correct, because he was talking about withdrawing $20 from ATM (not $25!!!) $5/$20=25%. Stewie you have twisted or rewritten diamondx's intent. $5/$25 = 20% only applies to withdrawing $25, which is not what OP stated.