Which institutions have you found with the broadest ATM network membership for surcharge-free withdrawals? (CO-OP, Allpoint, Alliance One, CU24, Moneypass, SUM)
For example; Alliance Credit Union participates in CO-OP, Allpoint, Alliance One & CU24. Digital Federal Credit Union participates in CO-OP, SUM, and with assorted CU leagues.
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The relative value of these networks varies dramatically depending on where you live. For example, in Illinois, SUM ATMs are few and far between. The city where I live has 9 Allpoint ATMs but only 1 SUM ATM.
Agreed. SUM is largely relevant in southern New England where the majority of member institutions reside, where-as Vermont banking is near universally on Falcon. I did not highlight the numerous regional alliances given the multitude of them.
This was to be a focused question concerning which financial institutions participate in extensive ATM network alliance memberships, and not those who operate the largest network.
If you're looking for the easiest to withdraw cash funds, we had a similar thread covering banks that offer ATM reimbursements (many of them unlimited): http://www.fatwallet.com/forums/finance/889383
Delta Community Credit Union...has both COOP and ALLPOINT Networks....many CU's have COOP but not all have Allpoint (some Cu's have neither!).....
I think they are actually the two LARGEST surcharge free atm networks in the United States....So, best to have a CU (like Delta or Alliant) that offers both....
And bear in mind that although there are various banks that offer Allpoint Coverage...they do NOT have COOP because that network is only offered by Credit Unions....
In most large metro areas and suburban areas, you will find excellent coverage on these two networks...however, in more "rural" small population towns, often you will not find too much coverage....say for example, if you live in a small city in Montana, for example....
In Manhattan (NYC) where i live, you will find these combined networks have about 2000 of these atms.....In contrast, my dad lives in Deerfield Beach, Florida...and though it's not a large city, it is Surburban (not rural) and he still has a respectable 80 or so of these within a 5 mile radius....
So always best to go with a Credit Union that offers BOTH NETWORKS...it will often DOUBLE your coverage!
Message edited by: craig10x on 2009-11-04 00:54:55 CST
I think the Op is referring to banks and credit unions that give you "surcharge free" atm networks like: COOP/ALLPOINT/ALLIANCE ONE/CU24 HERE/STAR SF/ MONEYPASS/SUM...etc... These are networks where you don't get charged a fee by the second party atm at all (if your bank or cu participates of course)....so there is no fee to rebate....
With Schwab, the 2nd party atms are charging you the regular fee...but then Schwab rebates it back to you at the end of the month (thus actually "paying" the charge)....
With these surcharge free networks...the bank or cu pays a flat fee per customer each month (whether the customer does any transactions or not) and that fee is relatively small..and also a small interchange fee per actual transaction done....But it's much less expensive for the bank or cu this way...as compared to when a bank (such as Schwab) has to cover the normal fee charge....
Message edited by: craig10x on 2009-11-03 18:10:56 CST
hasni said:A local bank in my state offers FREE ATM usage worldwide. If the other bank/institution charges you the fee, my bank refunds it !
Unlimited Free Use Worldwide for the win
Sounds great....though actually this thread is about banks and cu's that participate in surcharge free atm networks like COOP and ALLPOINT, where, when you use your card...you do not get any fee to begin with...therefore there is no fee to be rebated!
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