What does the ATM charge you to withdraw money?

[Asher]

Also compare CIBC and PCFinancial savings accounts. CIBC actually holds the money for PCFinancial and is the true bank. But the plans are hilariously different:

PCFinancial Interest Plus:
- No fees
- Unlimited transactions
- Interest Rates: $0-$1000: 0.5%, $1000+: 1.5%
- Anniversary bonus each year of up to 0.1%
- Earn PCPoints towards groceries, electronics, etc purchases (over the years I've redeemed over $2000 in bonuses with this)

CIBC Personal Savings account:
- 1 free transaction a month, $5 per transaction beyond that
- Interest rates: $0-$3000: 0.1%; $3000+: 0.6%
- No anniversary bonus
- No reward program

So why does anyone use that?

[MikeH]

People are loathe to change bank accounts.

[germanos]

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.

Yes, the same is true for the 25c payment in shops (I forgot). Like I said, it's a thing the shop-owners do as they have to pay the bank per debit transactions as well. Shop-owners have to pay the bank for all sort of things like depositing their cash and withdrawing cash in the form of 'coin-rolls' (like 100 20c pieces etc).

I have never had a credit card (using debit cards for 25 years or so) so I wouldn't know on the cost of those.

[MikeH]

They did a survey here and found out that even if someone's bank was literally coming into their house every night and punching them in the face, whilst charging 50% of their account balance for the privilege, which they then used to fund enterprises selling landmines to people who sowed them in playgrounds where their children played, people still wouldn't change banks.

[loinburger]

$2 from my bank's ATMs if I make more than six withdrawals in a month (the first six are free), $2 from other banks' ATMs. My debit card isn't set up as a credit card. I make maybe one withdrawal every month or two, so the withdrawal limit isn't a problem.

[MikeH]

Credit card I have for use abroad and for online/large purchases to take advantage of their purchase insurance.

[Asher]

I use my credit card to buy everything due to the rewards program. It's no fee and I never carry a balance.

[germanos]

They did a survey here and found out that even if someone's bank was literally coming into their house every night and punching them in the face, whilst charging 50% of their account balance for the privilege, which they then used to fund enterprises selling landmines to people who sowed them in playgrounds where their children played, people still wouldn't change banks.

[Al B. Sure!]

Don't forget that that the bank that provides the ATM itself charges you a fee for using their ATM when not a customer as well as your own bank charging you for not using their ATM


If I use a different ATM, my bank charges me $3.00 and the ATM charges me (usually) $3.50

Unfortunately, my bank doesn't have many ATM locations so I've been forced to use other ATM's. Otherwise, it's a 3 mile trip to the nearest bank.

****ing stupid banks. I refuse to believe the 'convenience' of an ATM costs them that much to provide.

[Provost Harrison]

I heard your banks were really ****ty like this...

[Wezil]

I use my credit card to buy everything due to the rewards program. It's no fee and I never carry a balance.

So why do you care about debit card fees?

[Al B. Sure!]

So why do you care about debit card fees?

The weed-man doesn't take credit.

[Wezil]

Drugs aren't Asher's thing.

I could easily believe he is a sex fiend though. ..

[Al B. Sure!]

I heard your banks were really ****ty like this...

$7.50 between two banks for an ATM withdrawal though? Really? It's like a racket. There is no way the sustainment of an atm costs that much per transaction.

Oh and my bank is not an American bank... well, it was but it was bought and is the US retail operations for Spanish bank, Banco Santander. You probably are familiar with Santander in Europe since I'm seeing it's the biggest bank in Europe.

I'm assuming they charge $3.00 per non-Santander ATM transactions only in America?

[Al B. Sure!]

Drugs aren't Asher's thing.

Since the **** when? Okay maybe he has calmed down over the years...