Who get the ATM surcharge?

[wjones]

Everytime you withdraw money from ATM that's not under your bank and there is a surcharge. Who get the money? The banks of the ATM or those ATM companies like PLUS, STAR, INTERLINK, MAC, etc?

 

[prodigy]

IIRC you get a charge from the bank that owns the ATM and also one from your bank.

 

[Static911]

i try to withdraw $500-$900 at a time from atm and get charged the $1.50 instead of only withdrawing $20.

STatic911

 

[xarmian]

not necessarily.. the ATM surcharges you a fee of somewhere between 75 cents and $2 (and some are free). If you use a bank like Key Bank (just to name one specifically) the bank itself will add a surcharge for not using one of their ATMs.

The surcharge by the bank itself onto your account (unassociated with the ATM) all of that money goes directly to the bank. (this was not the question, but I thought I'd add it)..

I'm not 100% positive on all of this next part, it's mostly speculation, but I believe the money charged by the ATM itself (the 75 cents to $2, usually $1.50) goes first to the bank that owns that specific ATM. Then I believe a fee from that charge is paid to the carrying services (as mentioned, Cirrus, Plus, Star, Mac, Etc.).. either way, the fee is added specifically by the bank that owns the ATM, not by the ATM service.

 

[thegreatjeff]

I don't have to pay a surchage..neener!

 

[The Stigenator]

I dont pay an ATM surcharge in my bank, and so does other people who use my banks ATM. I bank at Washinton Mutual, but then Washinton Mutual doesnt levy any charges.. but the other bank might.

 

[yakko]

Who cares who gets it?

 

[JimmyEatWorld]

Wjones cares.....

 

[Thegonagle]

I never withdraw cash anymore. I'm always depositing cash though. I make a lot in tips, neener neener!

I'm pretty sure xarmian is correct.

 

[TomJones]

Why not just use your card at the store to buy gum and get cash back.
At least you get something for your $.50

 

[wjones]

I just wanted to know who actually gets it. Not that i got charged for that. I use my bank's ATM all the time and it is free.

 

[Harv22222]

I use my banks ATM almost 95% of the time, but when i do use others, i wonder what the hell i'm paying $1-$2 for also. I've just always thought they do it cause they can.

 

[Emulex]

yah you never get charged an atm fee at a grocery store

 

[yakko]

<< I've just always thought they do it cause they can. >>

Is there any better reason?

 

[ratkil]

It's actually an evil foreign plot to reduce the USA to poverty by siphoning off our money at $1.50 at a time

 

[d0ofy]

I have a student account, so I get charged both by my bank ($1.00), and by the ATM owner (usually $1.50-$2.00). I can get around the ATM fee with the Citibank trick, but I'm still stuck with my bank's fee.
There is legislation going on in NY trying to outlaw ATM fees.

 

[yakko]

<< There is legislation going on in NY trying to outlaw ATM fees. >>

That in itself should be a crime.

 

[Amused]

Using ATMs from other banks is a convenience, not a right. One that should NOT be free, since you've paid that bank nothing to begin with. BofA did a great thing in Santa Monica, CA a few years back. The city of Santa Monica banned ATM fees, so BofA simply blocked all non-BofA customers from using their BofA ATMs. Most other banks followed BofA's lead.

This is what happens when you force businesses to give you a convenience for free. You lose the convenience. What happened in Santa Monica, will happen anywhere else you try to ban the fees. Furthermore, just look how many ATMS are owned by companies that aren't banks. Like convenience stores, amusement parks, etc. These ATMs will completely disappear.

You can't get something for nothing, folks. If you're too lazy, or don't have enough forward thought to get to your own bank's ATM, you have no one to blame for the fee but yourself.

 

[wjones]

<< Using ATMs from other banks is a convenience, not a right. One that should NOT be free, since you've paid that bank nothing to begin with. >>
I agree with AmusedOne.