Silly Bank

I recently started a new job, and it’s going well, but one annoyance is that there are no ATM’s for my bank nearby, and there aren’t any where I live, either. Since both the ATM machine and my bank charge a fee for adulterous ATM withdrawals (phrase borrowed from Laura Penny), I am charged $3 to $4 dollars every time I take out money. That’s 5-7% of a $60 withdrawal! Since I don’t feel like giving up 5-7% of my money in fees, I’m going to have to switch banks. And that’s the kicker. My bank, by insisting piling on this pointless fee (in addition to the various other fees they get me with), is going to lose my business. I generally like this bank, but they’re essentially punishing me for not having a local branch available to me. Dumb move…



4 Comments on “Silly Bank”

  1. Omar says:

    If you’re shopping for a new bank, here’s something to keep in mind: If you open a Citibank account online and they determine there are no branches near you, they reimburse the fee that the other bank charges you. They still charge their fee, though, but at least the overall fees are cut in half.

  2. YodaYid says:

    Thanks for the tip! Very smart of Citibank I might add. I think I might go with a smaller bank that I have easy access to, though. There’s a bank around the corner from where I live, but unfortunately, homeless people sleep in the ATM area, so it wouldn’t the most pleasant place to take out money at night. Although you have to give props to a bank that doesn’t care that people live in it… Just thinking out loud, in case you couldn’t tell ;-)

  3. Anonymous says:

    Even better, Commerce Bank reimburses their customers at any ATM, all the time.

  4. YodaYid says:

    Update: Now that I’m a student at a Large University, I can take advantage of the Large University’s credit union.

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