In some instances, it is smart to shop with cash only, but skip the bank or the ATM if you're withdrawing money. Some banks and ATMS charge service fees - even if it is your choice bank. Instead, use your debit card to purchase small items and get cash back at no charge from a retailer, such as a grocery store or the local big box. This can save you $2 to $5 for each visit you might have taken to the bank or ATM.
Using your own bank's ATM will save you about $2.00 per transaction. Eliminating just one transaction fee per week will net you approximately $100.00 per year.
Did you ever notice how much money you spend when using your Debit Card to get cash out of an ATM that is not affiliated with your bank? I was stunned when my last statement came and the fees associated with using ATM's. Anywhere from $2.25 to $3.00 to use the service. It can literally come to a big chunk of change by the end of the year! Now, I just go to Walgreen's, Dominick's Finer Foods, or any major store and even if you just purchase a pack of gum, you can request cash back. The Walgreen's here in Chi-Town will give you up to $100.00 cash back. You will need to enter your pin, but when you figure the amount you can save, its worth it. I look forward to my next statement where there is no fees for cash back.
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Avoiding ATM Fees