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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 yo
by 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 agoIt'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 agoAnd 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 agoI was reading this comment, and thinking, this sounds like the author. Then I looked at your name. Oh. Hahahaha