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> Although many readers may not remember this, bank ATMs used to be free as a matter of policy, through approximately the 1990s. This isn't clear to me. Is it

> Although many readers may not remember this, bank ATMs used to be free as a matter of policy, through approximately the 1990s. This isn't clear to me. Is it for interbank transactions or is this includes intrabank transactions? It's confusing for me since that nearly all banks here have free intra- and interbank withdrawal*. Are US banks really that greedy? * It may be indirectly charged by lower interest rates, I'm not sure, but there's no direct fees collected. Edit: wow, US banks are greedy. This is the first time that I've heard about domestic own-bank fees (separate from ATM operators' fees) for inquiring (not even withdrawing) your account. Silver lining is that intrabank transactions are still free, which is okay I guess but but definitely weird for me.

patio11 4y ago
In Japan same-bank transactions routinely have ATM fees outside of banking hours, though this is finally starting to change. Banks will also routinely charge you for same-bank bank transfers, often at a discount to interbank account transfers, including when they’re made at the same bank’s ATMs during banking hours. (For added fun, sometimes the price is different if it is same-bank same-branch versus same-bank different-branch, largely to lessen impact of fees on interfamily transfers and entrepreneurs moving money into and out of closely held companies.) In the U.S. withdrawing at another bank will frequently incur a few twice, once from your institution and once from the disbursing one, unless you are on a product which specifically makes a selling point out of reimbursing you for ATM fees. This is not simply a matter of “greed”; it is also a policy choice made by society as to who pays for bank services and where. Different equilibria prevail in different places, partly anchored on historical practice and partly in response to the usual factors which shape public policy.
- fomine3 4y ago
  It's really weird that same-branch vs different-branch fee difference still exists. It's on the same central system for a long time.
- quartesixte 4y ago
  And don’t forget sometimes the price changes depending on time of day! Definitely biggest culture shock of my time living there.
- zinekeller 4y ago
  > This is not simply a matter of “greed”; it is also a policy choice made by society as to who pays for bank services and where. Different equilibria prevail in different places, partly anchored on historical practice and partly in response to the usual factors which shape public policy. Fair enough, but I was still shocked by it. I know Japan's "checkerboard" ATM schedule, but (except for normal fees charged for withdrawing money from your savings account) I didn't really expect banks to double-charge you for domestic transactions.
- imwillofficial 4y ago
  I was reading this comment, and thinking, this sounds like the author. Then I looked at your name. Oh. Hahahaha
noisy_boy 4y ago
Where I am, we don't pay anything for balance enquiry/withdrawals from own-bank ATMs and also from ATMs within their network (subject to some conditions like max no. of transactions etc). We also don't pay for transfer across own-bank accounts AND local interbank (unless it is a very big amount in which case it can go through other means which depending on their nature may or may not incur fees).
Semaphor 4y ago
Interbank withdrawals incur fees in Germany as well. Of course, a) there are groups that count each other as intrabank, and b) Some banks have limited withdrawals (My N26 account has 5 per month, new accounts only get 3) where they pay all fees for you.
- kuschku 4y ago
  The N26 issue is actually because N26 is using the Mastercard network instead of the much cheaper Girocard network for withdrawals.
  - Semaphor 4y ago
    What issue?
    - kuschku 4y ago
      Limited number of withdrawals and afterwards having to pay a fee to withdraw
      - Semaphor 4y ago
        It’s not really an issue, it’s just a different focus. I get far more use of cash26 (in-store) withdrawals anyway. DKB and ING Diba require 12€/year for a giro card, and either "aktivstatus" (DKB) or 50€ minimum for free withdrawals.
kp195_ 4y ago
In Spain (IDK about other European countries), same bank transactions are always free (wether is a SEPA transfer, or a withdrawal on the bank's ATM). These days, transfers to different banks than yours are usually free (and many banks also offer free transfers to other Euro banks, I think it's got to do with SEPA stuff). However ATM withdrawals on a bank different than yours usually has some kind of fee (depending on the bank, I usually pay between €0,60 to €1,50, for debit withdrawals, credit has bank fees for ATM use and a fee for using credit). Usually if you withdraw €200 or more it's free, but that's entirely dependent on your bank.
- orwin 4y ago
  In my network, the first 3 withdrawal a month at an out-of-network ATMS are free, then it's like 1€ (i'm not sure anymore, i never had to pay this fee in my life)
- RodGodKiller 4y ago
  In Portugal all withdrawals, in the MULTIBANCO network at least, are free of charge. That network just so happens to encompass every bank operating in the country.
ElevenLathe 4y ago
FWIW, I've never had a fee to use the ATM physically at one of my (US) credit union branches. That's three separate credit unions in two states, starting around 20 years ago. Also, there are typically no fees at branches of other credit unions either (with some exceptions: A+ and UFCU in Austin always charge fees to me as a non-member, no idea if they charge their members too). Transactions at standalone ATMs (7-11s, etc.) typically cost, as do transactions at regular banks (not credit unions).

patio11 4y ago

In Japan same-bank transactions routinely have ATM fees outside of banking hours, though this is finally starting to change. Banks will also routinely charge you for same-bank bank transfers, often at a discount to interbank account transfers, including when they’re made at the same bank’s ATMs during banking hours. (For added fun, sometimes the price is different if it is same-bank same-branch versus same-bank different-branch, largely to lessen impact of fees on interfamily transfers and entrepreneurs moving money into and out of closely held companies.) In the U.S. withdrawing at another bank will frequently incur a few twice, once from your institution and once from the disbursing one, unless you are on a product which specifically makes a selling point out of reimbursing you for ATM fees. This is not simply a matter of “greed”; it is also a policy choice made by society as to who pays for bank services and where. Different equilibria prevail in different places, partly anchored on historical practice and partly in response to the usual factors which shape public policy.

fomine3 4y ago
It's really weird that same-branch vs different-branch fee difference still exists. It's on the same central system for a long time.
quartesixte 4y ago
And don’t forget sometimes the price changes depending on time of day! Definitely biggest culture shock of my time living there.
zinekeller 4y ago
> This is not simply a matter of “greed”; it is also a policy choice made by society as to who pays for bank services and where. Different equilibria prevail in different places, partly anchored on historical practice and partly in response to the usual factors which shape public policy. Fair enough, but I was still shocked by it. I know Japan's "checkerboard" ATM schedule, but (except for normal fees charged for withdrawing money from your savings account) I didn't really expect banks to double-charge you for domestic transactions.
imwillofficial 4y ago
I was reading this comment, and thinking, this sounds like the author. Then I looked at your name. Oh. Hahahaha

noisy_boy 4y ago

Where I am, we don't pay anything for balance enquiry/withdrawals from own-bank ATMs and also from ATMs within their network (subject to some conditions like max no. of transactions etc). We also don't pay for transfer across own-bank accounts AND local interbank (unless it is a very big amount in which case it can go through other means which depending on their nature may or may not incur fees).

Semaphor 4y ago

Interbank withdrawals incur fees in Germany as well. Of course, a) there are groups that count each other as intrabank, and b) Some banks have limited withdrawals (My N26 account has 5 per month, new accounts only get 3) where they pay all fees for you.

kuschku 4y ago
The N26 issue is actually because N26 is using the Mastercard network instead of the much cheaper Girocard network for withdrawals.
- Semaphor 4y ago
  What issue?
  - kuschku 4y ago
    Limited number of withdrawals and afterwards having to pay a fee to withdraw
    - Semaphor 4y ago
      It’s not really an issue, it’s just a different focus. I get far more use of cash26 (in-store) withdrawals anyway. DKB and ING Diba require 12€/year for a giro card, and either "aktivstatus" (DKB) or 50€ minimum for free withdrawals.

kp195_ 4y ago

In Spain (IDK about other European countries), same bank transactions are always free (wether is a SEPA transfer, or a withdrawal on the bank's ATM). These days, transfers to different banks than yours are usually free (and many banks also offer free transfers to other Euro banks, I think it's got to do with SEPA stuff). However ATM withdrawals on a bank different than yours usually has some kind of fee (depending on the bank, I usually pay between €0,60 to €1,50, for debit withdrawals, credit has bank fees for ATM use and a fee for using credit). Usually if you withdraw €200 or more it's free, but that's entirely dependent on your bank.

orwin 4y ago
In my network, the first 3 withdrawal a month at an out-of-network ATMS are free, then it's like 1€ (i'm not sure anymore, i never had to pay this fee in my life)
RodGodKiller 4y ago
In Portugal all withdrawals, in the MULTIBANCO network at least, are free of charge. That network just so happens to encompass every bank operating in the country.

ElevenLathe 4y ago

FWIW, I've never had a fee to use the ATM physically at one of my (US) credit union branches. That's three separate credit unions in two states, starting around 20 years ago. Also, there are typically no fees at branches of other credit unions either (with some exceptions: A+ and UFCU in Austin always charge fees to me as a non-member, no idea if they charge their members too). Transactions at standalone ATMs (7-11s, etc.) typically cost, as do transactions at regular banks (not credit unions).