People have gotten used to $4 ATM fees to pull out $40 in cash so this is really not that much worse for smaller transactions.
-Dave
I know stuff in the US is pretty weird sometimes with all those checks and stuff but fees for withdrawing cash from an ATM?
Here in Europe, we've had zero fees for cash withdrawal at the ATM oned by your banks for like a decade and with my card, I can withdraw at any national bank with zero fees up to 10k euros a month.
If I go to an ATM that is run by my bank there is no fee.
If I go to an ATM that is run by some other banks that my bank has an agreement with there is no fee.
If I go to an ATM that is just sitting in a gas station run by that gas station or by someone that they have an agreement with. My BANK does not charge a fee, but the ATM usually has a fee. Which depending on several things my bank may or may not reimburse me for.
There are some ATM networks that banks have agreements with that will not charge them but will charge people out of the network.
So yeah, a $4 fee if you are only taking on $40 is not unheard of. On the flip side it is a flat fee. Take out $20 will cost you $4 take out $400 still $4.
-Dave