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The Chronicle reports that (as of last July?) SF-born and raised Bank of America increased their ATM non-customer transaction fee a buck, totaling a grand $3. What? Why, the unmitigated gall of them! If we knew how to balance our checkbook or handled our money like an adult, we would be livid!
At least they're not following suit like some of those janky ATMs found at liquor stores and seedy bodegas. Some of those machines charge $5 or more depending on the time and day.
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Save money, go to a grocery store or a walgreens and buy something real cheap (like a roll of candy) and get cash back.
B of A ATM: $3 plus foreign ATM fee by your home bank.
Grocery Store: $0.99 for the candy, and no fee.
Looks like I got some food in exchange for screwing BofA in the ass.
consumerist.com (no relation to SFist, I think) was all over this a couple days ago.
Whenever banks do anything anti-consumer, the typical responses I see on their discussion boards includes a chorus of "I love my credit union".
Which I do.
me too. i like they're informal attitude. most of the time, anyway.
bodega?
this ain't new york!
and thank god for that.
"I love my credit union!"
The northern California credit unions have a mutual aid pact - if you have an account at one of them, you can use your ATM card at most any other with absolutely no fee. I love my credit union. It has free checking and pays interest on the checking account, too. I really love my credit union!
The NorCal credit unions have a pact? Yeah, it's called the Co-Op network. It's not limited to Northern California, and it even includes all the 7-11 ATMs.
Fuck Bank of America. They bought out the bank (MBNA) that I've got my MasterCard with. Yich. The web site went from passable to horrid. Now they're cramming their bullshit sitekey (google for some fantastic white papers on why this is totally insecure) garbage. Oh, and now BofA is trying to cram default pricing shit down their customers' mouths.
JUST SAY NO TO BANK OF AMERICA.
"and thank god for that."
You got a problem with New York?
Lucky me. I have an account with BofA. It started out as an account with Security Pacific. My account was called "Discount Checking" with only a $100 minimum balance and no fees. When Security Pacific and BofA merged, my account type was no longer offered, but of course everyone who already had it got to keep it. Well this year, BofA decided to get rid of that account and started charging me fees (I have another account with Citibank that I currently use primarily). Well I called them up, explained some shit to them (that I have two checking accounts and other relevant information) and now my BofA account is totally fee free with NO MINIMUM BALANCE. It also helped that I've been a "BofA" (read "Security Pacific to BofA" account holder since 1988.
yep, they're called *liquor stores*, friend. welcome to CA.
Paying anything to get some of MY OWN MONEY always seemed foolish.
I chose an institution that offers the most branches along the route of my ordinary daily routine. Before I leave the house I check my money supply and "ballpark" my needs through Noon of the next day the bank is open. If I feel I need money I stop in and get some.
It's simple and old fashioned but it doesn't nickle and dime me to death.
The time spent in the bank line is minimal. If I computed it I'm sure I'd come out ahead.
"yep, they're called *liquor stores*, friend. welcome to CA"
A bodega is NOT a liquor store. Bodegas sell newspapers, magazines (some porn), cigarettes, some beer, some liquor, some candy some other food items, lighters, other small disposable things and last but not least "Lotto" tickets.
"Um, most liquor stores I've been in SF and Oakland sell newspapers, magazines, cigarettes, and pretty much all these things you name. In some neighborhoods (generally poorer ones) they do function like a grocery store - West Oakland is a prime example."
Those aren't liquor stores, those are bodegas, even the ones run by Egyptians.
Just to note for anyone using a credit union. If your credit union is with the "CU Service Centers," you can go to any branch that is also a member and withdraw cash from a teller without charge.
Find a CU Service Center location:
http://www.cuservicecenter.com/
(altho this missed a few branches from what I could tell)
Determine if your CU is a "CU Service Center" member:
http://www.cuswirl.com/pages/your_cu.asp
Find a Co-Op ATM:
http://www.co-opfs.org/public/locators/atmlocator/index.cfm
These are both nationwide networks with damn good coverage.
Credit unions are great, but they don't offer all the services of a bank. I bank with The Mechanics Bank which was mentioned in the article. They let you use any bank's ATM and will rebate all the fees--even the other bank's charges. Plus, they're great people. Sort of old-fashioned, though. They actually know your name and their 800 number is answered right here--not in India or Bangladesh.
Whatever you do, don't pay those ridiculous ATM fees. Or, if you ever get stuck and absolutely have to use a machine that charges, at least take out the maximum amount of cash available. It's the same fee whether you take $20 or $300!
I love my credit union. Now keep in mind that they aren't part of FDIC, so the government can't get you your money back if they go bellly-up. But I think they have private insurance that will take care of you should that happen. I have accounts in three different banks, but I'm considering moving them all to my credit union.
Credit Unions are really good for anyone who wants a CD account, because they give you a really good rate that's much better than the bank or that so called "Orange Savings Account."
I had to quit my checking at my credit union when they started chipping away at my account for fees. It used to be free, then it was the $5 monthly service charge, then with so few ATMs, I was forced to go to Walgreens and buy something to get cash back (the CU charged me 25 cents every single time), and use of my check card was $1 a month. After that hassle, I jumped at the chance at Wells Fargo with lots of ATMs, easy access to a teller location near my home, and no fees at all.