Discovering Which ATMs are Free: Your Complete Guide
ATM transactions have become a part of our daily routine, and it’s no secret that these come with a cost. More often than not, you end up paying ATM fees that leave you feeling frustrated and robbed. But what if we told you that there’s a way to access ATMs without incurring any charges?
With increasing competition, most banks and ATM networks have started providing free transactions to their customers. The catch is that you need to know where to look. In this article, we’ll share insider tips and tricks to help you find the closest ATMs that offer surcharge-free transactions, along with other perks that come with using them.
Top 7 Banks Offering Free ATM Transactions
If you’re tired of paying ATM fees every time you withdraw money, you’ll be happy to know that many banks offer free ATM transactions. Here are the top 7 banks that provide free ATM services:
- Charles Schwab Bank offers unlimited ATM fee rebates worldwide with its High Yield Investor Checking account.
- Ally Bank offers free ATM withdrawals at over 43,000 Allpoint® ATMs across the US.
- Axos Bank offers unlimited ATM fee reimbursements plus 0.61% APY with its Rewards Checking account.
- Capital One 360 offers free ATM withdrawals at over 39,000 Capital One and Allpoint ATMs.
- Discover Bank offers free ATM withdrawals at over 60,000 ATMs nationwide.
- PNC Bank offers free ATM withdrawals at over 9,000 PNC ATMs and reimbursements of up to $10 a month for fees charged by non-PNC ATMs.
- USAA offers free ATM withdrawals at over 65,000 USAA-preferred ATMs across the US.
Each bank has different requirements for availing free ATM services. It’s important to check their respective websites for detailed information.
Best Free ATM Networks in the US
Several ATM networks offer free transactions as well. These networks are essentially groups of ATMs that offer surcharge-free transactions to their members. Here are some of the best free ATM networks in the US:
- Allpoint – Over 43,000 ATMs across the US, Canada, Mexico, Puerto Rico, Australia, and the UK
- Moneypass – Over 32,000 ATMs across the US
- CO-OP Financial Services – Over 30,000 ATMs across the US and Canada
- Star – Over 25,000 ATMs across the US
- NYCE – Over 20,000 ATMs across the US
It’s important to note that free transactions are only available to members of these ATM networks. You can check their websites to see if your current bank is a member or to find out how to join.
How to Avoid ATM Fees
If your bank doesn’t offer free ATM services or if you’re unable to access any free ATM networks, you still have options to avoid ATM fees. Here are some tips and alternatives:
- Withdraw cash from your bank’s branch office – You can visit your bank’s branch office and withdraw cash over the counter without incurring any ATM fees.
- Use debit card cashback – Many retailers offer cash back services on purchases made with a debit card. This allows you to withdraw cash without incurring any fees.
- Request cash from a friend or family – You can always ask a friend or family member for cash if you urgently need it.
- Use a credit card – This is not advisable due to high-interest rates, but it can be an option if you have no other choice.
It’s always good to have multiple payment options, especially when traveling or in an emergency situation.
ATMs That Offer Surcharge-Free Transactions
Aside from the aforementioned free ATM networks, several ATMs offer surcharge-free transactions as well. These include:
- Coupon ATMs – Coupon ATMs are ATMs that provide a coupon for each transaction, which can be redeemed for cash at select stores.
- Bank-specific ATMs – Some banks only offer surcharge-free transactions for their customers.
- Retailer ATMs – Many retailers offer their own ATM services that provide surcharge-free transactions for their customers.
While these ATMs provide surcharge-free transactions, it’s important to confirm if there are any hidden fees or costs before using them.
The Pros and Cons of Using Free ATMs
Using free ATMs has several benefits:
- Save money on ATM fees
- Access to a larger network of free ATMs
- Convenience of withdrawing money without incurring charges
However, there are also drawbacks to consider:
- Limitations on withdrawal amounts
- No assurance that the ATM is functional and secure
- Additional fees for international transactions
To maximize the benefits of free ATMs, it’s important to keep these drawbacks in mind and to use these services responsibly.
How to Find the Closest Free ATM
Locating the closest free ATM has never been easier. Here are some websites and apps that help you find them:
- ATM Locator by Allpoint – This app allows you to find the closest Allpoint ATMs that offer free transactions.
- CO-OP ATM Locator – This website provides locations for CO-OP Financial Services ATMs that offer surcharge-free transactions.
- Moneypass ATM Locator – This website provides locations for Moneypass ATMs that offer surcharge-free transactions.
- Banks’ websites – Most banks provide information on free ATM locations on their website or mobile app.
Using these apps and websites is easy. All you need is a reliable internet connection and access to your current location. You can search for ATMs based on your location and filter the results based on your preferred ATM network.
Free ATM Transactions for International Travelers
If you’re traveling abroad, finding a free ATM can be challenging. Luckily, some banks offer free ATM services for their international customers. Here are some banks that provide free ATM services for international travelers:
- Schwab Bank – Provides ATM fee rebates worldwide
- Ally Bank – No ATM fees for international transactions
- Capital One 360 – No foreign transaction fees
To avail these services, you need to have an account with the respective bank and inform them of your international travel plans.
Conclusion
Accessing free ATMs may seem like a hassle, but it’s a great way to save money and access a larger network of ATMs. By using the tips and tricks mentioned in this article, you can easily find free ATMs, avoid unnecessary fees, and make the most out of your hard-earned money.
