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Chase Bank testing out $5 ATM fees

submitted on March 17, 2011 by orangearrows in "Stores / Merchants"

This is crazy - charging fees for bank customers as well. I just hope this does not become the norm.

Bank customers could face $5 ATM fees.

In Illinois, JPMorgan Chase is testing $5 fees for non-customers, in Texas, it's $4. If the trial runs make enough money, the fees could be rolled out nationwide, the Wall Street Journal reports.

HSBC has already hiked rates, charging all non-customers $3 for using the banks' machines. TD Bank, and PNC Bank are now charging their own own customers $2 for using out-of-network ATMs, unless they sign up for accounts with monthly fees as high as $25, the paper reports.

Read more here> http://www.huffingtonpost.com/.....36959.html

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professor

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Posted by CouponNut on March 17, 2011
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Since my office is next to Chase, I never use the ATM.
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master

Posted by josetring on March 17, 2011
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Chase is getting too big

admin

Posted by YanBz on March 17, 2011

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Well, since the new regulation tied their hands with other fees they are trying new venues to make extra $$$. What it means for us - try be more organized, plan ahead and try to avoid ATM's altogether

master

Posted by honesta on March 17, 2011

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It will be hard to do that. They are going to charge for ATM everytime you leave your local area. That is going to be tough to plan for.

guest

Posted by justme on March 19, 2011

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This is the banks own fault. for example lets say you made 5 transactions in one day, the final one being the largest. It put you overdrawn on your account. Chase would let the transaction go through and run that one first. Then hit you for overdraft fees on the other four transactions.
The new regulation put a stop to this now Chase can approve a transaction that will put you in overdraft but only if you let them.

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Posted by mooncow728 on March 19, 2011

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I've never had problems with Chase with this. There are plenty of times that I would have overdrafted if they ran my transactions in order but they ALWAYS make my deposit first. So let's say Thursday night before I get paid I make 10 different transactions, they will run my deposit from Friday morning first and then the debits. It sure beats having to "float" checks.

professor

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Posted by lootango on March 17, 2011

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Guess I'll just have to pick the "cash back" option on my debit card when I go grocery shopping. No charge for that!

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Posted by CouponNut on March 18, 2011
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I do that at WalMart to get my pin-money and no fees apply.

guest

Posted by justme on March 19, 2011

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If you are a Chase customer there still are no atm fees. The fees in the post is for n0n-chase customers.

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Posted by anand on March 17, 2011
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thank you for the heads up

professor

Posted by gabyperu on March 18, 2011

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First they added a $10 monthly fee to free checking accounts in February (unless you meet certain requirements)and now this, what's next? time to open an account at your local credit union or local bank rated 4 stars or above and pays interest on checking.

http://moveyourmoneyproject.org/
http://www.bauerfinancial.com/btc_ratings.asp?q=cu

professor

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Posted by CouponNut on March 18, 2011

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I got my first $12 charge in 10 yrs. of banking at Chase, so I hope they will negotiate that with me.

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Posted by orangearrows on March 18, 2011 [reply] 0 0

For?

professor

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Posted by CouponNut on March 18, 2011 [reply] 0 0

Bank service charge!

professor

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Posted by orangearrows on March 18, 2011 [reply] 0 0

$12 is a lot for a one-time service charge

professor

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Posted by CouponNut on March 18, 2011

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Hope they negotiate since its my first time ever being charged a fee, but I guess I'll just have to do a FIVE of those SMALL DEBIT credit card charges. Seems like thats going to cost Chase more to process than allowing me to continue my free checking account. Strange banking terms.

master

Posted by roxytang on March 18, 2011

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Makes me glad sometimes that I work for tips. I almost always have cash on me, and I've never really had to think about ATMs.

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Posted by pablos17 on March 18, 2011
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Ouch! That's one big fee.

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Posted by clover on March 18, 2011

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They raised my credit card to 29% from 8% even though I had no late payments. I hate Chase!

guest

Posted by justme on March 19, 2011

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It never fails to amaze me when someone misreads a post, then have a bunch of people just follow along.
The $5 fee is for NON-Chase customers. A bit steep? yes but the plan is, if you find yourself having to deal with this charge enough you will switch to being a Chase customer.

professor

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Posted by clover on March 19, 2011

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My response was towards Chase and what they did to their credit card customers who paid their cards on time. I stand by my opinion of Chase but always appreciate anyone's opinion.

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