6/07/2006

ATM Fees

When I verified a hunch a few weeks ago - I definitely felt stupid...

Since I began banking as an adult - there has always been a fee for "outside network" ATMs. (I am currently a Citibank customer) In my mind, this has always been the cost for using, say, a Chase ATM...

This is not the case, however. The real fee for Citibank customers using the Chase ATM is $3.00 - which breaks down as $1.50 from Chase (and even more sometimes -- it was $3.00 in Vegas this past week) and $1.50 from Citibank. Now it's pretty clear to me why these two competitors haven't gotten together and come up with a number they agree to split - but I guess I just assumed they had...

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