When you go to the ATM to get cash out, you could be paying for the right to access your own money. Depending on the bank that you use, you could be spending as much as $5 just to get $20 out to buy dinner or pay for groceries. Is there any way that you can avoid paying ATM fees?
Use a Prepaid Debit Card
A prepaid debit card can be used just like a regular debit card except that you don’t have to pay ATM fees at most banks or other locations where they are available. If you took money out even once a week, you could save yourself as much as $500 or more in ATM fees alone. This money can then be used to pay for school supplies, food or to put gas in your car.
How Often Can You Use Your Card?
You can use your card as often as you want wherever you can find an ATM. However, there may be a limit as to how much you can take out per day per card. If you need to make a withdrawal larger than the daily limit, you may want to keep some of your money in a separate bank account.
Can You Get Cash Back From Your Debit Card?
It may be possible to get cash back by using your debit card at a grocery store payment terminal or wherever else you pay for your purchases. In some cases, you may able to simply ask for cash back and avoid the fees that are charged when you use an ATM. The same tactic can be used by those who have a traditional debit card.
When there are no ATM fees, you win as a consumer. You get to keep your hard earned money and use it for what you deem important instead of handing it over to a bank. Therefore, you may want to look into using a prepaid debit card that enables you to avoid paying fees just to access your own money.