We Like Banks That Don’t Charge ATM Fees — Ever
If you're like many people, you probably use ATMs on a regular basis to access cash, check your account balances, and perform other banking tasks. But if you bank with a financial institution that charges fees for ATM usage, these transactions can quickly add up and eat into your account balance. That's why we like banks that don't charge ATM fees — they make it easier and more affordable to manage your money.
There are a few different types of ATM fees that you might encounter when using this service. One is the ATM usage fee, which is charged by the bank or credit union that owns the ATM. This fee is typically assessed when you use an ATM that is not owned by your bank or credit union. For example, if you use a Bank of America ATM while you're a customer of Wells Fargo, you might be charged a usage fee by Bank of America.
Another type of ATM fee is the surcharge fee, which is also charged by the bank or credit union that owns the ATM. This fee is typically assessed when you use an ATM that is not part of your bank's or credit union's network of ATMs. For example, if you use a Chase ATM while you're a customer of Bank of America, you might be charged a surcharge fee by Chase.
In addition to these fees, you might also be charged a foreign transaction fee if you use an ATM while traveling internationally. This fee is typically assessed by your own bank or credit union and is meant to cover the cost of converting your domestic currency into the local currency.
While ATM fees can be annoying, there are some banks and credit unions that don't charge them at all. These financial institutions offer free ATM usage to their customers, regardless of whether they use an ATM that is part of their network or not. This can be a huge advantage if you frequently use ATMs, as it can save you a significant amount of money over time.
So, which banks and credit unions offer free ATM usage to their customers? Here are a few of our favorites:
- Ally Bank
Ally Bank is an online-only bank that offers a range of banking products and services, including checking and savings accounts, CDs, and credit cards. One of the things that sets Ally Bank apart from other banks is that it doesn't charge ATM fees to its customers. This means that you can use any ATM in the world for free, and you'll never be charged a usage fee or a surcharge fee by Ally Bank. In addition, Ally Bank reimburses up to $10 in foreign transaction fees per statement period, making it a great choice for travelers.
- Charles Schwab Bank
Charles Schwab is a well-known investment firm that also offers a range of banking products and services, including checking and savings accounts, CDs, and credit cards. Like Ally Bank, Charles Schwab doesn't charge ATM fees to its customers, so you can use any ATM in the world for free. In addition, Charles Schwab will reimburse you for any usage fees or surcharge fees that you might incur while using an ATM. This makes it a great option for people who travel frequently or who need to use ATMs that are not part of their bank's or credit union's network.
- Capital One 360
Capital One 360 is an online-only bank that offers a range of banking products and services, including checking and savings accounts, CDs, and credit cards. Like Ally Bank and Charles Schwab, Capital One 360 doesn't charge ATM fees
- USAA
USAA is a financial services company that serves military members, veterans, and their families. It offers a range of banking products and services, including checking and savings accounts, CDs, and credit cards. USAA doesn't charge ATM fees to its customers, so you can use any ATM in the world for free. In addition, USAA will reimburse you for any usage fees or surcharge fees that you might incur while using an ATM.
- Chime
Chime is a mobile-only bank that offers checking and savings accounts, as well as a debit card. It doesn't have any physical branches, but it has a network of more than 38,000 ATMs that its customers can use for free. In addition to this, Chime also doesn't charge any fees for using ATMs that are not part of its network. This makes it a great option for people who need to use ATMs frequently or who don't live near a Chime ATM.
- Betterment
Betterment is an online financial advisor that offers a range of investment products and services, including checking and savings accounts. It doesn't have any physical branches, but it has a network of more than 25,000 ATMs that its customers can use for free. Betterment also doesn't charge any fees for using ATMs that are not part of its network, making it a convenient and affordable option for people who need to use ATMs frequently.
- Simple
Simple is a mobile-only bank that offers checking and savings accounts, as well as a debit card. It doesn't have any physical branches, but it has a network of more than 43,000 ATMs that its customers can use for free. Simple also doesn't charge any fees for using ATMs that are not part of its network, making it a convenient and affordable option for people who need to use ATMs frequently.
In addition to these banks and credit unions, there are also a few other financial institutions that offer free ATM usage to their customers. These include Aspiration, SoFi Money, and Varo.
If you're tired of paying ATM fees every time you need to access your money, consider switching to a bank or credit union that doesn't charge these fees. Not only will you save money on fees, but you'll also have more convenient access to your cash when you need it.
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