Thread: ANOTHER WAY OF SCAMMING

Hodgo
You are sort of incorrect.
Some of the ATM machines are owned by the business, most are owned by a 3rd party company, in all cases they are operated by a 3rd party company.
Yes, these ATM's charge a fee, as do most ATM's that are not operated by your bank that you may use.
$4 is very steep, usually the going rate is between $2-$3.
If you have a 3rd party ATM in you business (such as we do) the ATM company pays the business X amount per cash out transaction after a certain number of transactions per month, EG .02c per cash out after the first 500 transactions per month.
The business is given this fee because there is a cost to having the ATM in the business & because the ATM companies want more of their ATM's out there.
The costs of having an ATM in your business, depending on circumstances, can be substantial - floor space taken up, power, communications, time cashing, accounting & maintaining the ATM, cost of having large amounts of cash including substantial insurance costs.
The plus is hopefully more traffic in your business.
The reason a lot of, especially smaller, businesses don't allow Cash Out at the POS & make you use the ATM (like we do) is nothing to do with getting the fee.
It is because by not allowing Cash Out at the POS & having the ATM no operator errors/mistakes are made!
Over the years I have had un-approved cash outs but the money still given out, & countless time the incorrect cash given out, ATM's don't, usually, make those errors.

So, yes, you will be charged a fee but, it is NOT a SCAM!

Jonesfam

My thinking is that you are just paying a small fee for the convenience of not having to drive or walk to the nearest bank with an ATM in the same way that you pay a bit extra for the convenience of buying milk or bread from your local corner store instead of driving into town to the supermarket.

Originally Posted by vnx205

My thinking is that you are just paying a small fee for the convenience of not having to drive or walk to the nearest bank with an ATM in the same way that you pay a bit extra for the convenience of buying milk or bread from your local corner store instead of driving into town to the supermarket.

Agreed. Nobody is making you use the ATM, or making you shop at that store. I agree it's sometimes inconvenient, but also understand nobody owes me any service that I don't pay for.

I'm kind of with what Hodgo is inferring.....it may not be scam but a $3 charge is certainly a ripoff.

Originally Posted by ramblingboy42

I'm kind of with what Hodgo is inferring.....it may not be scam but a $3 charge is certainly a ripoff.

Only really a scam if they don't give you the chance to avoid it, or charge you more than they say they will. When I have no choice (through my own poor planning) to use one of these high cost machines, I withdraw as much as I can, at least then the % is better.

I will not use them. I only use an ATM connected to my own building society.
Don't like banks either, but's that another story.

$3+ seems high, it's usually $2. I avoid them unless there is no other choice, but I'm a bit tight about bank fees generally.

Oh how I miss having to rush into a post office in the bush before it closes, hoping that I can get a few dollars out of my Commonwealth passbook account, if the post office has enough cash... NOT. Avoid the need for a third party ATM where possible, but is $3 really too much for the convenience?

I can remember the "good" old days very clearly. God help those that didn't have a commonwealth passbook account in the bush...


Tom.