Back when banks wanted us to use ATM’s they said it would lower our cost to bank. Bank of America last week increased its ATM fee for non customers to $3. Some other banks are looking at following suit. $3 is rather steep, hell $2 is steep! It is all electronic so it costs them pennies, so the margins are huge on these fees.
This is another case of the corporate white lie coming to cost you big time. Remember, we were told ATM’s would lower the cost of banking for all. $3 is steep, come on guys, you give us a terrible rate on savings accounts as is, why stick to us here too? I think it is time for an alternative. Hopefully someone does come up with one.