Beat ATM Fees: Banks That Reimburse You for Withdrawals
Are you tired of racking up fees every time you use an ATM that isn’t in your bank’s network? Let’s dive into some banks that can help you dodge those pesky charges with their reimbursement policies.
Why Choose a Bank That Reimburses ATM Fees?
For many of us, cash isn’t a daily necessity. If you don’t withdraw money often, the simple act of accessing your funds shouldn’t come with a price tag. Banks that offer ATM fee reimbursements can save you money, and some even provide fee-free ATM access through extensive networks.
Top Banks for ATM Fee Reimbursement
Here’s a rundown of a few banks and credit unions where you can get your ATM fees back:
1. Ally Bank
Ally Bank has partnered with Allpoint and MoneyPass, offering access to thousands of fee-free ATMs. While they reimburse up to $10 per statement cycle for fees charged by other ATMs, their appeal lies in their competitive savings account interest rate of 3.70% APY.
2. Alliant Credit Union
With more than 80,000 fee-free ATMs, Alliant Credit Union will reimburse you up to $20 per month for ATM fees. The reimbursement is efficient, appearing in your account the same day the fee is charged.
3. Axos Bank
Axos Bank stands out with unlimited ATM fee reimbursements through its essential checking accounts. On top of that, you won’t face monthly maintenance fees or overdraft charges, making it a straightforward choice for those prioritizing flexibility. Their savings account currently offers 4.66% APY.
4. Betterment
Known for its investment services, Betterment also offers unlimited ATM fee reimbursement on checking accounts, and they cover international ATM fees, making it a great option for travelers.
5. Charles Schwab Bank
If you already have a Charles Schwab account, consider their Investor Checking, which provides unlimited ATM fee rebates on every transaction. The monthly reimbursement can help keep your money where it belongs—in your pocket.
6. USAA
For members of the military and their families, USAA offers access to over 100,000 fee-free ATMs. If you end up using one that does charge a fee, USAA will reimburse you up to $10 each statement cycle.
7. TD Bank
With a $2,500 minimum balance in the TD Beyond Checking account, you can enjoy reimbursement of fees charged by non-TD ATMs.
Tips for Choosing the Right Bank
When considering a bank for ATM fee reimbursement, keep these tips in mind:
- Account Requirements: Check if there are minimum balance requirements or account fees that might offset the benefits.
- Access Points: Ensure the bank has a wide ATM network that fits your lifestyle.
- Interest Rates: Even if ATM fees are reimbursed, compare the savings account interest rates to maximize your earnings.
Conclusion
If ATM fees are draining your wallet, switching to a bank with a reimbursement policy could be a savvy move. With options like Ally Bank, Alliant Credit Union, and others offering various perks, it’s worth exploring your choices. Make your bank work for you, and keep more of your money in your pocket!
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Bio: Priya specializes in making complex financial and tech topics easy to digest, with experience in fintech and consumer reviews.