What does the ATM charge you to withdraw money?

[VetLegion]

I think could be an interest international comparison.

Here, it's $0 if I use a debit card and find my bank's ATM and $3.50 if I use another bank's ATM.

If I use a credit card, it is 4.50% of the amount taken irrespective of which ATM I use.

[MikeH]

0 if I use a debit card with my own bank
0 if I use a debit card with another bank

0 if I use a debit card with my own bank abroad
~£1.50 (depending on country and exchange rate etc.) if I use a debit card with another bank abroad.

0 if I use my credit card with my own bank (but interest starts immediately, not only after the first month like it is with purchases)
0 if I use my credit card with another bank (but interest starts immediately, not only after the first month like it is with purchases)

There are some ATMs in shops, pubs etc. where you have to pay up to £1.50, but I never use them.

[C0ckney]

i don't use banks but i know they make a small charge here for credit cards, i think debit withdrawals are free though.

[Asher]

0 if I use a debit card with my own bank
0 if I use a debit card with another bank

0 if I use a debit card with my own bank abroad
~£1.50 (depending on country and exchange rate etc.) if I use a debit card with another bank abroad.

0 if I use my credit card with my own bank (but interest starts immediately, not only after the first month like it is with purchases)
0 if I use my credit card with another bank (but interest starts immediately, not only after the first month like it is with purchases)

There are some ATMs in shops, pubs etc. where you have to pay up to £1.50, but I never use them.

Same as me.

For some reason, most Canadians with the major banks have a quota for how many times they can use their debit card a month and pay through the nose to do so.

My bank is no fee, no limits. Why anyone has anything else is quite beyond me. My (bank account) interest rates are also higher than theirs. And free cheques, etc...

[Wezil]

For some reason, most Canadians with the major banks have a quota for how many times they can use their debit card a month and pay through the nose to do so.

I think that is what mine does but as I use debit about once or twice a year it doesn't matter.

[germanos]

0 if I use a debit card with my own bank
0 if I use a debit card with another bank

0 if I use a debit card with my own bank abroad
~£1.50 (depending on country and exchange rate etc.) if I use a debit card with another bank abroad.

^

I can also pay with debit card in shops and it's up to the shop-owner if and what they charge. It used to be 25c per transaction but nowadays its mostly free since no cash = less robberies.

[MikeH]

Current accounts are pretty much universally free in the UK.

I don't understand a limit on debit cards. You mean, people can only use their debit card a limited number of times a month?

WTF?

[Asher]

Current accounts are pretty much universally free in the UK.

I don't understand a limit on debit cards. You mean, people can only use their debit card a limited number of times a month?

WTF?

Yes. Then they charge you for more.

CIBC Everyday® Chequing Account

Offers value for your basic banking needs.

Overview L†:
• Up to 10 transactionsL for $3.90 per month;
$0.65 for each additional transaction over 10
• Your $3.90 monthly fee is waived if you maintain
a minimum balance of $1,000
• Access to your account through CIBC bank machines,
CIBC Telephone, Online, Mobile, or Branch Banking,
or by Interac®1, PlusTM, VisaTM, or any other network(s)
we may make available from time to time+
• Personalized cheques available
• CIBC Express Switch® Service makes it easy to switch
your banking to CIBC
• CIBC Overdraft Protection Service available1

Record-keeping:
• Free basic record-keeping including paperless option2
• Monthly statement with cheques imaged3 –
$2.50/month
• Monthly statement with cheques returned4 –
$3.50/month
• Interim statement – $4.50 each

It's outrageous that anyone would ever use this. I use a bank that gives me free access to all CIBC machines and I don't pay a time with unlimited everything.

They have a higher end account for $8.95 a month where you can get UP TO 25 TRANSACTIONS PER MONTH!!!

[MikeH]

^

I can also pay with debit card in shops and it's up to the shop-owner if and what they charge. It used to be 25c per transaction but nowadays its mostly free since no cash = less robberies.

Paying with a debit card or credit card is free to me.

The credit card company charges the shop a percentage fee for me to use it (Those money grabbing bastards!) and I think the debit card is something like 50p a transaction cost to the shopkeeper, so some places have a minimum spend of ~ £5 to use a debit card so that they ensure they still make a profit if you pay with a card.

This means that in the UK, on big purchases you can often negotiate some discount for not using a credit card, at least as much as the percentage the credit card company would want. (these days you can haggle more as everyone's struggling anyway).

[MikeH]

Yes. Then they charge you for more.


It's outrageous that anyone would ever use this. I use a bank that gives me free access to all CIBC machines and I don't pay a time with unlimited everything.

They have a higher end account for $8.95 a month where you can get UP TO 25 TRANSACTIONS PER MONTH!!!

That is insanity.

Interim statements $4.50?! Does that include mini-statements from cash machines? They are also free.

[MikeH]

Not that you need them in the days of internet banking.

[Asher]

Compare the above CIBC account with this:

open a President’s Choice Financial no fee bank account today and pay $0 for:

free daily banking – online and by phone, 24/7
free transactions at over 3,800 President’s Choice Financial and CIBC bank machines
unlimited cheques and free chequing
free bill payments
free Interac® Direct Payments [these are debit payments at retailers]
free online access to your monthly statements (statements can be mailed to you for a small charge)
free cheques and chequing
free groceries and more when you use your President’s Choice Financial bank card and earn PC points4 at participating stores where President’s Choice® products are sold

I find it fascinating that PCFinancial gives you unlimited access to CIBC bank machines for free, while CIBC charges you.

[germanos]

my restrictions:
- no more then 1000 Euro a day (this is to prevent scammers/thiefs to suck your account dry)
- no more then once a day for not-my-own-bank ATM
- If vaguely remember that for not-my-own-ATM's the limit is 250 Euro.

Funfact:
The first ATM's used to be "Giromaat" which let to the expression: "Your best mate is the Giromate"
Nowadays they're known as 'Flappentap' (Flap is slang for a banknote. Tap is, well, a beertap.)

[MikeH]

My bank allow me to choose to pay a monthly fee for an account if I want (nice of them!) but if I do I get loads of stuff like travel insurance, breakdown cover, enhanced savings interest rate, reduced mortgage rates, free overseas cash withdrawal (from other banks) etc.

[MikeH]

Compare the above CIBC account with this:


I find it fascinating that PCFinancial gives you unlimited access to CIBC bank machines for free, while CIBC charges you.

That one seems normal to me.