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dagger007
- Senior Member
posted: Nov. 10, 2005 @ 7:36a 
smartbuys said:Compass Bank offers all its checking customers unlimited ATM surcharge rebates!
I bank with Compass and one of the perks for banking with them is that they will remiburse me on all ATM fees I incur while using other bank's ATMs. The only thing you have to do is mail in the receipts. It is a pain, but you don't have to pay for the convenience of using other bank's machines. I get abck around $10-18 a month back in rebate fees.
Compass Bank is located in Alabama, Florida, Texas, New Mexico, Colorado and Arizona.Compass Bank
Thanks
Commerce Bank does the same thing. I think you need to maintain 2500 in your checking account. |
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daveland
- Senior Member
posted: Nov. 10, 2005 @ 10:32a
Yes Commerce does it (and painlessly - unlike Compass) but remember you earn no interest on that $2,500 - so factor that in to how much you really use other banks ATMs to figure if you will save more with the fee free ATMs than you would have earned in interest after taxes. Assuming a current 4% yield on $2,500 for one year is $100 in interest and an avg. 30% tax rate you need to get more than $70 in ATM rebates over the year to break even. Probably worth it for most but maybe not all if you have a bank with ATMs pretty much wherever you go. |
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smartbuys
- New Member
posted: Nov. 10, 2005 @ 10:44a
Yes. Mailing in the rebates is a pain but I don't have to maintain a min balance to get them. Commerce requires $2,500 min bal to get the same unlimited feature. I can then take the $2.5K and park it in a higher earning account.
I think because Compass is limited to 6 states they need to reduce their balance requirements to get more takers. IMO |
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zc8
- Senior Member - 3K
posted: Nov. 10, 2005 @ 11:08a
Old story. This is almost true for all banks. |
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sloth911
- Cranky Member
posted: Nov. 10, 2005 @ 11:10a
Wawa's have free ATM's in the PA/NJ area. That is where I withdraw funds from Presidential Checking account.
UFB Direct also refunds a limited number of ATM fees.
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To me it seems that the easiest solution is to NOT use an ATM machine when you are "out and about".
If you find yourself in REPEAT situations where you NEED access to cash "on the spot" one should really evaluate your spending patterns and habits.
I personally only "tap mac" about once a month for $60 or so. Why? I use my credit cards for everything, all the time. If I goto Atlantic City (insert destination of choice) I always withdraw the $XXX I plan to spend from my local bank.
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billrubin
- Senior Member - 10K
posted: Nov. 10, 2005 @ 1:00p
zc8 said:Old story. This is almost true for all banks.
What's an old story? That WAMU is now going to charge? No, it is a NEW story. They were not prior to this. |
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EugeneV
- Ancient Member
posted: Nov. 14, 2005 @ 9:57p
QuickCheck still has free ATMs (operated by PNC in the nearest one). |
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SeattleNative
- Senior Member - 1K
posted: Nov. 19, 2005 @ 4:50p
Allpoint ATM Network is IMPOSES SURCHARGES ON NON-CUSTOMERS. Describing themselves as Surcharge-Free is untruthful, deceptive, and misleading.
They are an "ATM Alliance" of affiliate banks.
As for Washington Mutual, they were the last major institution offering genuine Surcharge-Free ATM access to all users.
Most credit unions now impose non-customer surcharges, though they have created various "ATM Alliance" networks with other credit unions.
IMHO, Congress should REQUIRE credit unions which operate ATMs to provide Surcharge-Free access to all ATM users, given their tax-exempt non-profit cooperative status.
I also believe the U.S. Postal Service should offer Surcharge-Free ATM services to Americans at post offices. If the ATM services receive the kind of heavy transaction volume that Washington Mutual had, the bank interchange fees received by the ATM operator should more than cover the amortized ATM expense for the transaction volume.
If only our U.S. Congress were listening to ideas like this...... |
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HJM
- Member
posted: Dec. 8, 2005 @ 12:00a
FatNYC said:Any FWers with some new ATM strategies? I have an ETrade account that supposedly refunds ATM fees, but I have never had a need to test it, given that there was always a Washington Mutual around. Now I am going to either have to test the ATM refund policy or find other no-fee machines. Ideas?
Open the USAA checking & savings accounts. They reimburse up to $15 per month on ATM surcharge. Their savings interest rate is up to 3.26%. And you can withdraw free from PNC's ATM.
HJM. |
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OLEOLEOLEO
- Member
posted: Dec. 8, 2005 @ 12:59a
SeattleNative said:IMHO, Congress should REQUIRE credit unions which operate ATMs to provide Surcharge-Free access to all ATM users, given their tax-exempt non-profit cooperative status.
That's unfair to credit unions. Why not make surcharge free ATMs a condition of federal deposit insurance? |
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plloopp
- Senior Member
posted: Dec. 8, 2005 @ 1:44a
OLEOLEOLEO said:SeattleNative said:IMHO, Congress should REQUIRE credit unions which operate ATMs to provide Surcharge-Free access to all ATM users, given their tax-exempt non-profit cooperative status.
That's unfair to credit unions. Why not make surcharge free ATMs a condition of federal deposit insurance?
Don't look to Washington for any help.
When the people of the State of California outlawed ATM surcharges a few years ago, the federal government intervened to overturn the law.
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