3 Simple Ways to Avoid Paying ATM Fees

Withdrawing cash from an ATM that isn’t from your bank can be as costly as buying a latte from Starbucks.

Every time you use one of these ATMs, you pay $4.35 to these banks and the more transactions you make, the more it will cost you.

What makes this astonishing is that it’s the easiest way banks make money for using their ATMs where its costs have increased by 23%.

So, here are 3 simple ways to avoid paying ATM fees:

#1: Look for ATM Locator Information

There’s a good chance that your bank’s mobile app will have a feature that helps you locate ATMs. We’re talking about ATMs that won’t charge you a fee, that is. Whenever you want to withdraw cash, always use it to see if there’s a cheaper option close by.

#2: Getting cash back when you buy groceries

A number of supermarkets or pharmacies allow you to receive cash back at the point of sale. Since you are going to purchase something anyways, then it also makes to get some cash back too since it works as a free ATM withdrawal as well.

#3: Switch to banks that won’t hurt you

If you’re not the type that remembers which bank ATM should be used at no cost, then it’s time switch from a brick-and-mortar bank to an online one. One example is Ally and Schwab which does not have any ATMs of their own but allow you to use a number of other banks’ ATMs.