Clark Howard's Tips

May 9, 2008

Americans wasted over $4 billion on ATM fees last year, according to BankRate.com. Some giant monster mega-banks are pushing their non-customer fees as high as $5!

There's a better answer than getting ripped off. You can go to a credit union or a community bank and get real customer service and not have to pay for ATMs. Quite often, your credit union or community bank will have an ATM network that's fee-free. That means you can use the ATMs for nada at various banks, credit unions and other independent spots.

In another example, the stock brokerage Clark uses reimburses all his ATM fees. He always tries to find a free or very low-cost ATM because he feels guilty about sticking them with the bill. Similarly, Clark's brother uses an online bank and gets a monthly stipend to cover any ATM charges he incurs.

The bottom line is that there are many ways to get around paying ATM fees. But convenience is king and too many people don't want to be bothered. Yet at a time when every dollar counts, Clark would prefer that you choose to not get ripped off.

Consumer advice courtesy of