Please list here the debit cards giving rebates for ATM withdrawals (this means if you use a third party owned ATM that assesses an ATM fee, the financial institution which issued the check card will reimburse you for this third party fee. It is most likely to be a strategy used by banks with few ATMs to get customers). I will start here:
- GMAC Bank (MM Savings): up to 3 rebates monthly ($6 maximum), beware of the maximum 6 withdrawals, this being a savings account - USAA FSB (checking): $15 maximum a month (restricted membership) - DCU (checking): up to $5 monthly with direct deposit (it may be worth to do this, since the money becomes available a day or two before payday), membership is usually easy to acquire. Note: the checking account is free, but only with Direct Deposit you will get the ATM fees rebate. Without Direct Deposit or BillPay, withdrawals are $1 each. - TDBanknorth (checking): unlimited, accounts available only to residents of a few states (that's why I don't know too much about this, I personally never had an account with them; - eBank (checking): unlimited on any ATMs in the world, you will only incur the 1% currency exchange fee - Citibank, for accounts having a zipcode where there is no Citibank ATM (I need to do further research on this one, I have it, but I never used it). It seems you also need a minimum of $1500 in your Citi accounts linked to the card, in order to get this (see a post below).
Additional tips: if you want to avoid the ATM charge, another way around it is to: - either get a check card from a bank with lots of ATMs nationwide(eg BofA), worldwide (eg HSBC) or at least locally, in your neighborhood; - or get a check card from a credit union and locate in your neighborhood the credit union network ATMs, and you will not be overcharged (YMMV, some check card issuing credit unions set a maximum number of monthly no-charge withdrawals); - as always, be sure you have the necessary money in the account, otherwise you will be charged an overdraft fee. The rebates will be given only when statement closes, so, in addition to the withdrawal amount, you need to have the ATM fee available in your account as well.
Update: There seems to be a similar thread at ibankdesign.com (thanks suckisstaples)
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I have TD and it's great...one of the best deals going...but as you said, only available to a limited amount of areas (metro nyc, NJ, PA, CT)....
USAA actually rebates up to $15 in both checking AND savings! ($30 total between the 2 accounts)....used to be open to all...now, for new customers, only military people allowed, unfortunately....USAA was my all time favorite bank, until this TD deal came along...lol EBank of Atlanta, Georgia is open to all and a pretty good runner up if you not in the TD service area....
Additional entries: Compass Bank (Unlimited worldwide atm surcharge rebates) from Checking Account....only available in their service area states.... Mechanics Bank (northern california....but open to all) Smart and Easy Checking...Unlimited ATM surcharge rebates... CNBT of Taylor Texas (Reward Checking) Unlimited U.S. Atm Surcharge rebates.....open to all
Most web-based banks that have no physical branches give a certain amount of atm rebates per month...but personally, i love the ones that give unlimited (even though i don't really make THAT many withdrawals each month.... just so i don't have to keep count!...LOL)
UFB Direct (varies between $4.50 and $6 per statement period depending on account type, includes money market accounts) Everbank ($6/mo on FreeNet checking, must mail in reciepts but envelopes are prepaid)
I am currently with Bank of America, and thinking about opening a new checking account with another bank for my wife.
Now in the rare occasions when I use an ATM from other banks, I am charged in both ends. The ATM owner charged me a fee, and then Bank of America has its own charge.
For these banks that are listed who rebate ATM fees, do they cover the both side of the charges?
beall said:I am currently with Bank of America, and thinking about opening a new checking account with another bank for my wife.
Now in the rare occasions when I use an ATM from other banks, I am charged in both ends. The ATM owner charged me a fee, and then Bank of America has its own charge.
For these banks that are listed who rebate ATM fees, do they cover the both side of the charges? Usually (I suppose there could be some exceptions, but it wouldn't make sense), there is no fee from the bank who you have the ATM card with, and then they refund whatever the ATM owner's bank charges, so yes, they cover both charges.
Yeah, I needed $10 for laundromat a few months back. BofA ATM was malfunctioning, so I went to BB&T ATM. Both them and BofA charged me $2, so I ended up with an incredible 40% fee. Worse than Advance America...
Yes, that's correct...banks that rebate atm surcharges don't charge on their end and they are refunding the fee you get "hit with" by the other bank's atm...i suppose there could be a few exceptions to this, but it really wouldn't make much sense...lol... And, certainly, in the case of all the banks mentioned here so far, and all the web-based banks i know of, none of them charge on their end at all! So, it's just a question of how many rebates of other bank's surcharges, they will allow you per month...
In most cases, you initially get the charge deducted, but it's refunded to you at the end of the monthly statement cycle...a few banks actually refund immediately (it's already been returned to you by the time the transaction is posted)....not that it really matters that much...as long as you get it back
g10ny said: - Citibank, for accounts having a zipcode where there is no Citibank ATM (I need to do further research on this one, I have it, but I never used it)
Note that Citi's website actually says there can't be a branch in your county to qualify for fee reimbursement. Also note that you have to have the minimum average balance (e.g., $1500 for EZ Checking) even if you qualify for a fee waiver due to billpay or direct deposit.
I've used Nova Savings Bank in the past and they were fine. Up to $5/month reimbursed, even on their no-fee, no-minimum account.
I have a Compass Bank checking account. It's free with no minimum, and they reimburse ATM fees from ANY ATM anywhere in the world; you just have to mail in your receipts. What more could you ask for?
I would rather it be automatic than have to mail in receipts. I used to have a Key Priveledge account where I had to call in to have the charges reversed. It was a pain. USAA I have had no problems with, the charges are reversed at the end of the month.
For DCU, even if you don't have direct deposit there is a way to waive the ATM fee. Get registered with their bill pay and pay atleast 2 bills a month. They will reimburse $5 max a month.
sweetfire009 said:I have a Compass Bank checking account. It's free with no minimum, and they reimburse ATM fees from ANY ATM anywhere in the world; you just have to mail in your receipts. What more could you ask for?
You could ask for a bank that doesn't require you to MAIL IN the receipts- how antiquated- try commerce bank.
Latke said:sweetfire009 said:I have a Compass Bank checking account. It's free with no minimum, and they reimburse ATM fees from ANY ATM anywhere in the world; you just have to mail in your receipts. What more could you ask for?
You could ask for a bank that doesn't require you to MAIL IN the receipts- how antiquated- try commerce bank.
Yes, but with Commerce Bank, you have to keep $2500 balance in your Checking Account to get the Unlimited Atm Rebates...not so with all the other banks that have been mentioned in this thread...
If you have a Fidelity investment account, Fidelity offers a Visa Gold Card that debits the charges directly from the core account. Fidelity allows 5 transactions per months free of charge but does not refund the 3rd party ATM fees for small accounts. If you have a big account called "premium accounts" that amounts to $100,000 (combining joint, all 401k, IRA etc), you have no limits on ATM withdrawals and they refund upto $75 in ATM charges per year.
Not bad, IMO, if you qualify since the interest rates are also decent on the core account. Linky for the interested.
Wachovia is rebating up to $6/month for 2 years for customers in Texas who have openend their account when Wachovia first openend branches in Texas approx. 1 year ago. The rebates are automatic. I don't know if they still offer this. I'm about halfway into my 2-year period and have received the rebates everytime.
City National Bank of Taylor will refund ATM fees automatically on the next business day if you have direct deposit with their 4.03% rewards checking.
PC Banker e-Checking accountUp to $6.00 per statement cycle when your account has an average daily balance of $1,000 or more on the date the transaction posts to your account. Bank of Internet checking accounts ATM rebates depending on account type.
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