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If they tell you after giving you a ride that you have to go to an ATM and pay the ATM fee, then they are just passing the cost on to you at a net loss - ATM fe
by thedufer 10y ago
If they tell you after giving you a ride that you have to go to an ATM and pay the ATM fee, then they are just passing the cost on to you at a net loss - ATM fees are higher than CC fees on purchases the size of a typical cab fare. I'm not convinced that it's better to funnel money to banks rather than CC companies.
- devishard 10y agoIf you're paying ATM fees a) that's on the banks, not on the cab driver, and b) you need to switch banks--I have paid a handful of ATM fees in the last decade and I make in-person purchases almost exclusively in cash.
- thedufer 10y agoIf there's no bank you have an account at within a reasonable distance, you might not have a choice. Obviously I use free ATMs when I can, but how much control do you have when a cabbie is demanding money?
- devishard 10y agoI moved a year ago so there isn't a bank I have an account at in my current state. But my bank is part of a national network of ATMs. If I use an out-of-network ATM the fee is refunded up to once a month.
- CardFellow 10y agoBanks get money either way. They get most of the money from a credit card transaction.