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Location: Moose Jaw, in between the Moose's butt and nose.
5,152 posts, read 8,530,192 times
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Chase and Wells Fargo, were the 1st 2 majors that started to charge $3 for ATM (if you're not a customer of theirs), surcharges. To the point now, that most ATM's have that for a standard, when it used to be 2 as recently as 4 years ago.
Well, now Chase, apparently, is saying that you will be charged a fee, but they won't say the amount. They probably caught on that enough people were not using their ATM's thanks to the 3 dollar fee, so this is their way now of entrapping people, who don't use their's that often, to withdraw and get their additional 3 dollars this way (after the person says holy bleep).
How is this possible? When was this written in to some law, that says they don't have to tell you what the fee is before you actually withdraw the money?
Chase and Wells Fargo, were the 1st 2 majors that started to charge $3 for ATM (if you're not a customer of theirs), surcharges. To the point now, that most ATM's have that for a standard, when it used to be 2 as recently as 4 years ago.
Well, now Chase, apparently, is saying that you will be charged a fee, but they won't say the amount. They probably caught on that enough people were not using their ATM's thanks to the 3 dollar fee, so this is their way now of entrapping people, who don't use their's that often, to withdraw and get their additional 3 dollars this way (after the person says holy bleep).
How is this possible? When was this written in to some law, that says they don't have to tell you what the fee is before you actually withdraw the money?
Just as an FYI, you could try what I do. 3-4 times a year I go to the bank and take out some cash. I don't have an ATM card, I don't need one. No fees....life is good.
Bank of America now allows you to conduct cash over drafts at the ATM now. Around 6 months ago I went to withdraw $20 cash but entered an extra 0 for $200. I had around $160 in my checking at the time so the atm said something to the tune of "this I'll be an overdraft transaction subject to additional fees. Press yes to continue".
Location: Moose Jaw, in between the Moose's butt and nose.
5,152 posts, read 8,530,192 times
Reputation: 2038
Quote:
Originally Posted by UntilTheNDofTimE
Bank of America now allows you to conduct cash over drafts at the ATM now. Around 6 months ago I went to withdraw $20 cash but entered an extra 0 for $200. I had around $160 in my checking at the time so the atm said something to the tune of "this I'll be an overdraft transaction subject to additional fees. Press yes to continue".
I can find no evidence that Chase has any plans to charge any undisclosed fee amounts. Perhaps what you heard is just a rumor started by a disgruntled customer or employee.
Chase had tried to increase their fees for non-customers to $5 five years ago but rolled it back.
We found an easy solution: We do our banking through Fidelity and use a Fidelity Cash Management account. They not only don't charge for using ATMs at other banks (which is good, since they have no ATMs of their own), but they also refund the ATM fee other banks charge non-customers.
How can this be a *snake way* to get more revenue when you are told you will be in overdraft and asked if you want to continue with the transaction?
If you know you do not have that amount of funds then it is your choice to proceed and pay the overdraft fee.
We found an easy solution: We do our banking through Fidelity and use a Fidelity Cash Management account. They not only don't charge for using ATMs at other banks (which is good, since they have no ATMs of their own), but they also refund the ATM fee other banks charge non-customers.
TD Bank also refunds ATM fees charged by other banks when you open a Premier Checking account (must maintain $3,500 minimum balance).
The vast majority of CREDIT UNIONS have an ATM network (Co-Op Network) which allows members FREE ATM transactions at other member credit unions; I have one within easy walking distance.
I have trouble generating angst for fees that one doesn't need to pay. You've got to be pretty damn stupid/lazy to be paying ATM fees, it is one of the most easily fee avoided managed banking services.
I can find no evidence that Chase has any plans to charge any undisclosed fee amounts. Perhaps what you heard is just a rumor started by a disgruntled customer or employee.
Chase had tried to increase their fees for non-customers to $5 five years ago but rolled it back.
We found an easy solution: We do our banking through Fidelity and use a Fidelity Cash Management account. They not only don't charge for using ATMs at other banks (which is good, since they have no ATMs of their own), but they also refund the ATM fee other banks charge non-customers.
I haven't seen anything confirming this either
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