Banks: We Hear You

Physician's Money Digest, December31 2004, Volume 11, Issue 24

Note:

If you took a vote on the most unpopularfee that banks impose, automaticteller machine (ATM) charges wouldprobably be a clear winner. Customershave long griped about being charged bytheir bank for using another bank'sATM. Even worse, the other bank oftentacks on a surcharge, too, making it adouble hit. Now, several banks are easingup on ATM fees as they battle to bring innew customers and hold on to existingones. A bank can join an ATM alliance,agreeing not to impose a surchargewhen customers of other member banksuse its ATMs. Alliance membersonly agree to waive any surcharge fornoncustomers who use their ATMs; theycan still charge their own customers forusing other banks' ATMs. For moreinformation, visit www.freeatms.com.