ATM surcharge fee

[James2011]

For whom has a ATM machine:

How much do you charge for fee?
same surcharge with your nearest ATM? or 50cents or $1 lower or higher?
Thanks for your input,

[BMWHD3060]

Originally Posted by James2011

For whom has a ATM machine:

How much do you charge for fee?
same surcharge with your nearest ATM? or 50cents or $1 lower or higher?
Thanks for your input,

This charge might be different for each City, forgetabout different States.
I charge $2.00.
If you let us know what State you were from in your profile it might be easier to get better answers to some of your questions.

[CanCanCase]

Dr. James-

Every location will vary. Not just by region, but by the type of business that's setting the ATM fee... McDonald's, for example, is on a nationwide contract to put ATMs in all franchises that want them. The contract sets the surcharge, not the store owner. WalMart stores are similar...they set theirs on a regional basis.

Having said all of that, the national average is close to $3. I originally priced my machines at $2, but that was arbitrary pricing and had little to do with neighbors, national averages or anything.

-Case

[ldm]

Originally Posted by James2011

For whom has a ATM machine:

How much do you charge for fee?
same surcharge with your nearest ATM? or 50cents or $1 lower or higher?
Thanks for your input,

I don't have an ATM machine, but if I decided to install one, I would check fees with the local banks and local businesses to decide if I wanted to be competitive or not...which would depend more heavily on the more local competition. This would also help me decide if an ATM was even necessary. Les

[DaveLevenson]

I charge $1.00; this is less than other ATMs in my neighborhood. But that, by itself, does not tell the whole story. I dispense $5 bills, and impose a maximum withdrawal per transaction of $50. All of the others dispense $10 or $20 bills and allow the customer to withdraw $100 or more. Their surcharges vary from $1.75 to $2.75, and most charge $2.00.

For a customer who only wants to use my quarter-operated washers and dryers, $5 bills are most convenient, as each bill gets converted to 20 quarters. More than half of my ATM transactions are $10 - $15. To my way of thinking, a $2.00 fee on these small transactions is unreasonable. I do see occasional back-to-back $50 withdrawals occurring within a minute, and on the same card. So some folks actually get a $100 withdrawal, and pay $2.00 for it, just like most of the other ATMs in town. But I want to encourage small transactions -- it costs me less in that I can keep a smaller cash inventory in the ATM. I think my combination of denomination, fees, and limits accomplishes its purpose.

[mjwalsh]

Originally Posted by ldm

I don't have an ATM machine, but if I decided to install one, I would check fees with the local banks and local businesses to decide if I wanted to be competitive or not...which would depend more heavily on the more local competition. This would also help me decide if an ATM was even necessary. Les

Les,

While you are checking, see how many of your area credit unions & banks offer free "no hassle" reimbursements regardless of what ATM their customer uses. That could be a factor also.

MikeW

[ldm]

Originally Posted by mjwalsh

Les,

While you are checking, see how many of your area credit unions & banks offer free "no hassle" reimbursements regardless of what ATM their customer uses. That could be a factor also.

MikeW

Yeah, I don't use ATM's and was not aware of this service. Banks giving fees back, what's next...a free lunch. Les