Et tu, Wash Mu?

The first, and very possibly best, advice we got when we returned to the Big City after our self-imposed exile to the Midwest was twofold: "Don't take taxicabs and don't pay ATM fees."

Not taking taxis wasn't such a hard trick to pull (we love our unlimited metrocard) but not paying ATM fees proved more difficult. Oftentimes when we need cash our bank is nowhere near where we are (damn you Citibank!). That's why we always loved Washington Mutual. They didn't judge us for not being their customers, they just wanted to help us spend our money. And best of all, they did so with all sorts of cute little colloquialisms that always made the tourists at the next ATM giggle (like saying "sure" instead of "yes").

But those days are over. Seems that somebody forgot to mention to us that after five years they had decided to abandon their free banking. So imagine our surprise when we found ourselves being asked if we'd accept a $2 fee ("Sure" or "No Thanks?"). It felt a bit like the time we found out that there was no Santa Claus. Of course it is a bit silly of us to get mad at a company who we don't patronize for taking away a free service, but still our reaction remains the same: bummer.

From all of this sad news, however, we did learn a few interesting facts like that Wash Mu's no-fee ATMs received 2 and 1/2 times more usage than the average ATM and that Americans pay nearly $4 billion in ATM fees each year, with an average fee of $1.40. All of which just reminds us that we now need to find ourselves some more cheap ATMs (or, y'know, start taking out more money at time from our own bank, or, uh, get a new bank). Off the top of our head, we can think of one set of $.99 ATMs (oh, McDonalds) and one free one (if you can get into the New York Times, check out their very free ATM on the eleventh floor) but other than that we're at a loss. Anybody know of any ATMs that want to give us money without skimming from the top?

Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.

By Garth Johnston in Miscellaneous on November 22, 2005 12:45 PM

Comments [rss]

dahl

fidelity is the same deal as etrade - reimbursement because they have no atm's (i think the max is $3, but still, pretty good most of the time unless you're in tourist central!)

j

dirtgirl - there's etrade atms at CVS'!! :) i thought that was pretty cool..

dirtgirl

I have my checking account with Etrade and because they don't have ATMs, they reimburse all my fees at other banks. I never even flinch when I see that "will you accept this charge?" warning.

andrew

the real question here is not when it 'became acceptable' to occasionally [gasp!] err in one's grammar, but rather when publically ragging on other people's grammatical mistakes turned into a socially acceptable hobby. [p.s. grammarist - if we're on the topic, where'd you dig up 'accepatable'?]

i didn't read that eats, shoots and leaves book so maybe i'm a little behind the times on this one, but making snide comments about other people's writing is really MUCH less endearing than you seem think it is. it's not like garth is getting paid for this, after all.

irina

Nice title. Especially fitting what with the season finale of Rome and all. (Although, he doesn't actually say the line. Weird.) I get why other banks charge you for using their machines. They're greedy bastards. But then, they are banks. But why does my bank charge me, too? I'm sure there's a plausible and over-complicated explanation for this. In fact, it's probably in that thing I signed. But it still sucks. If I take out $60 and the ATM charges me $2 and my bank charge me $1.50. That's more than 5%!

AV

Yes, credit unions are all in cahoots with each other to not charge ATM fees at each otehr's ATMS. I've moved out of the country, and what's great is that, if I withdraw cash 4 times or fewer per month, there's NO FEE, even out of the country. My old bank (Wells Fargo) had upped its foreign-ATM transaction fee to $5! (from $3.)

essther

Garth,

Your write. Wee cant awl bee purfict.

Butt tri-harder.

;)

aileen

I was a big fan of doing the cashback method at Duane Reade, until the started installing those pesky ATMS and now they won't let you do it anymore.

rad

what about getting cashback on small purchases with a debit card? sure, some places frown upon giving back large sums, but most are good for 50-100. ive gotten $200 from the 14th st food emporium a few times, and cant think of too many ATMs that give you a diet coke or pack of orbit sweetmint gum for their $1.50 "fee."

bp

damn, I need BA to sign a deal with RiteAid to get their ATMs all over the City.

atwood

As stated above, if you're an actor, you can join the actors federal credit union, and use any mcdonalds atm for free. I've been told that AFCU is a great way to bank, since its specially catered to actors and their weird, often-confusing financial situations. I think you just have to be a AEA, SAG, or AFTRA member to join.

Bill Gates

Duane Reade was good only for glacially slow service and a guaranteed flight of stairs between the entrance and the prescription counter (you know, more convenience for the elderly). Chase ATMs give them a reason to exist.

WaMu Customer

Thank goodness. There were always long lines at WaMu ATMS in the East Village and on Broadway and the machines would often run out of money by Sunday morning.

Also, WaMu customers never received any reciprocity from either our bank (in the form of reimbursed ATM fees or at least no charge for a set number of transactions) or from other banks.

I'm glad to know that at long last, I don't have to plan on taking cash out before drunken revelers drain all the money from my bank's ATM on the weekend or face the punitive charges at the local deli and from my bank.

girlacross

HSBC also has free banking . . . or at least they did because they started charging me. I guess there must have been a lot of uproar because they stopped charging me for using non-HSBC banks.

miss

thanks to my parents, i belong to thier company's Credit Union in CA.. no atm's over here but McDonald's is FREE for me... McDonald's ATMs are "Actor's Federal Credit Union" machines....it seems credit unions are in cahoots together to not charge each other ATM fees?

chaseist

switch to chase..they are on almost every corner and now at all the duane reades, so almost every half block!!...free checking with direct deposit..thats not asking too much :) and now they have some cool "blink" stuff going on...ads all over, damn you consumer advertisers

Homer J

Not to be the party-pooper, but exactly why should a bank offer free ATMs?

It costs money to run the machines, and they need to be serviced. They servce as a convenience for customers, and banks with a large ATM footprint (BoA) can use them to attract customers.

If you are not giving anything to a bank - i.e. an account - why should you expect them to give anything to you.

high

"those times you need $400 and aren't near the bank to which you belong"

like when, before a drug deal?

marcus

Not only are the ATMs at Duane Reed only $.99-- but there is no stupid $100/$200 withdrawal limit. Good for those times you need $400 and aren't near the bank to which you belong.

Matt

I'm surprised that more stores don't offer free ATMs. How much do you think an ATM rental company makes per ATM per month? I have no idea, but if I were a company looking to drive a lot of foot traffic, I'd consider paying for a free ATM. Of course, it would only be really effective for a grocery store, bodega, newsstand, etc.