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Use your bank’s ATM

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Nearly all banks charge a fee when a customer uses an ATM that does not belong to the bank.

This is why you should use your bank’s ATM as often as possible.

According to a July 2009 N.Y. Times article, the average ATM charge rose at the end of 2008 to $1.97, up from $1.78 in 2007.

That data would lead us to believe that the average fee in 2009 will probably top the $2.00 mark. And you can envision that going higher into 2010 and even higher into 2011.

All of those $2 surcharges can add up over time. By properly assessing your cash needs on a regular basis, ATM withdrawals can be planned so as to avoid as many ATM surcharges as possible.

Even if you travel frequently, ATM withdrawals can be timed to your benefit. If you are an extremely frequent traveler, consider banking with an institution that is available nationwide and/or picking a bank account that forgives a certain number of ATM fees per month.

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