Quite a few banks offer ATM fee reimbursements in the States. Especially for banks that don’t have physical locations. There’s usaully a limit to this, like limited to 5 atm withdrawls a month.
And even if Monzo doesn’t want to offer fee reimbursements, it’d be a good idea to get into one of the networks that allow for fee-free withdrawals (Allpoint or MoneyPass). It wouldn’t be as ideal as fee reimbursements, but it’d be better than nothing.
Yeah I’m with ING in Australia and they reimburse any overseas fee an ATM charges you. It’s amazing especially in countries like Thailand that card like 8 dollars to withdraw cash
Honestly, Thailand is absolutely crazy in this respect. I’ve been charged less to use an ATM in Vegas than in Bangkok.
I’m curious to fully understand how ATM fees work in the US… coming from the UK, where ATM fees generally aren’t a thing, it was a bit of a shock to see some ATMs wanting to charge me $5 to access my own money when I went to NYC a couple of years ago…
(To be fair, that was a fancy Wells Fargo ATM in a main tourist area, that provided the ability to choose how you wanted your cash, but $3 was pretty common).
Typically if you are a member of that bank it’s completely free. If I have a Bank of America account and go to a BoA ATM, it’s free. But if I go to a UMB Bank ATM they will charge a 3 dollar fee or higher. It’s the bank charging the other institution and the institution passing that over to us.
Payments here in general are absurd. I have to pay a 4 dollar convenience fee for example for paying utilities online. My only other option is mailing a check or calling it in.
But surely ‘calling it in’ requires more resources on the part of your utility company, what with them having to pay the person on the other end of the phone…? Nonsensical.
Yeah. I don’t disagree. I think it should be illegal. We need better consumer laws in the US.
Often Utility companies are state run, so switching to payments which reduce resources (jobs) is likely bad PR
This would be amazing. So jealous of those people whose banks do this.
Will Monzo be a part of the Allpoint or Moneypass network?