Ever taken out cash from an ATM machine and gotten socked with a $3 fee (or worse)? You probably weren't thrilled about that.
Nobody likes those fees. Except banks.
America's three biggest banks -- JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) -- earned more than $6 billion just from ATM and overdraft fees last year, according to an analysis by SNL Financial and CNNMoney.
That equates to $25 for every adult in the United States.
There's so much frustration over these fees that they have become a presidential campaign issue.
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I'd like to know how much JPM makes on EBT cards!
ReplyDeleteYou have to be an idiot to pay an ATM fee. Most banks allow you to use their ATM without fees and you can get cash back from most grocery stores and Walmart without a fee.
ReplyDeleteJust be thankful that you can still withdraw money from an ATM.
ReplyDeleteKnowing a bit of basic math will save people from the overdraft fees.
ReplyDelete9:35-True,but some banks have very few local branches.People should check out how many local branches a bank has before proceeding further.When a branch of my bank closed a couple years back it really wasn't a big deal because there are still 5 branches within an 8 mile radius of where I live.As for the cash back you are also correct.
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