WHAT IS THE COST OF CONVENIENCE?
Today we reported ATM fees are going up to $3.00 at Bank of America. I think consumers need to rise up and say ENOUGH!
First, they spend twenty years getting us hooked on this crack-like addiction with low fees, then stick the dagger in. If you only need to withdraw $30 to take your kid to dinner, that's a 10% penalty. The independent machines are even worse (up to $5.00!), then often your own bank hits you with a fee as well. It's almost as bad at Credit Unions, where I originally sought refuge from ridiculous bank fees. Now, they're getting in on the deal by charging you for p.o.s transactions.
Bankrate.com estimate consumers will spend $4-BILLION dollars in ATM fees this year. Read this article, and take a vow to use only your own bank's ATM, so we can all fight back! Bankrate.com article