$5 ATM Fees!

Don’t you hate it when you’re in need of cash, you make a pit stop at an ATM, and the bank charges you a fee for it!

Get ready for big fee increases at your nearest ATM. Some of the nation’s largest banks are boosting ATM fees. The new fees could be especially costly for people who withdraw cash from another bank’s ATM.

Chase Bank slaps some non-customers with $5 ATM fees

Chase Bank, with nearly a dozen branches in the Tulsa Metro, could soon be charging non-customers in Oklahoma a steep fee to use their ATMs. Right now, Chase is running two pilot programs. In Illinois, it’s charging $5 every time a non-customer withdraws money from a Chase ATM… in Texas, it’s $4. So it could cost someone 5 bucks to take out $20. That’s crazy.

Here in Oklahoma, the fee is still $2 but could soon go up if the bank rolls out the hikes nationwide.

The changes come at a time of big upheaval in the banking industry. With 16,000 ATMs, Chase is the second largest operator in the country, and if the increase hits Oklahoma and other states it could mean big dollars for the bank.

Chase defends increased fees

Ryan McInerney, the CEO of Chase Consumer Banking, defends the fees, telling ABC News, “We haven’t decided what the final price will be but I’m very confident about charging people who aren’t customers to have access to their cash from another bank through our ATM network.”

For the millions who use ATMs, this latest move means check out the fees first before you go into a bank that’s not your own. Click here for other ways to avoid the latest bank fees.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: