Bitcoin Forum

This is good for bitcoin...
http://money.cnn.com/2014/09/29/pf/atm-fees-rise/index.html?hpt=hp_t2 (http://money.cnn.com/2014/09/29/pf/atm-fees-rise/index.html?hpt=hp_t2)

The more banks screw their customers, the more bitcoin has to offer.

Highest charges are for people who withdraw more money than they actually have in their account. You can't even do that with BTC. And paying extra  charges when withdrawing money from a bank which isn't your bank isn't new, you just need to be smart. I'm in Europe right now in a country where I will never withdraw any cash because that would call for a high charge, so I'll just wait till I'm moving away. Banks aren't so bad, but you have to be organized.

This is true. IMO the majority of the ATM related fees have something to do with accessing money that you do not have. People are stupid and greedy and will agree to pay crazy fees so they can spend money they do not have yet

Well this was bound to happen....that is why i use the network ATM's. just wondering when will the banks start taking fees on their network ATM's as well.

The banks seem to be a bigger threat to themselves than bitcoin.

Bank fee's late are crazy with amount they charge for withdraws transfers overdrafts late fee's fee's ya never even heard of but they made it and are still doing fine i think they will continue

This is not what is reflected in ATM fees. You are referring to overall banking costs. The article in the OP is discussing only the direct cost associated with using an ATM. Most of these fees are fees that you will pay for using another bank's ATM. For example if you want to use your ATM card that is issued by bank "A" at bank "B"'s ATM then bank "B" will likely charge a fee because you are using their ATM and needs to take on some level of risk for disbursing cash on another bank's account. Bank "A" will also charge a fee because of the added expense to use the other bank's ATM network.

The best way to avoid fees while using an ATM is to only use the same brand ATM that you have a bank account at (and that issued your ATM/debit card)

Don't use ATMs that are not owned by your bank then, and don't spend money you don't have by going into your overdraft. Pretty much most ATMs in the UK are free anyway, and it's rare that you'll be charged but they state that they charge you before you even put your card in so if I come across one I'll just find another.

not only the Bank fees are going up even the Taxes decided to go up

My bank gives me 15 dollars a month to cover ATM fees

Well apparently people are lazy enough to not do this.

The only other ATM fee that I have ever seen is a statement fee (to print a partial statement of recent activity) although I cannot imagine why anyone would ever want this. As a result I would conclude that people do this billions of times per year in the US.

Like it or not ATM at the present still provide a valuable service that BTC cannot currently replace.

What the hell? I never paid any atm fee.

Really? are you in the U.S.? Here you pay at any ATM except the ones your bank owns. It can be as high as $8 per transaction. What a ripoff for sending a few lines of text over the internet.

Do you want to say that you could live on bitcoin only in these days ? :)
i can't say that. not in Europe.
lets say a btc loadable card, still you are charged a fee for exchange.
Banks still rules and we need to admit that.
you know why?
because people believe banks.
mortgages, debts, credits.. people like that.
We need to explain the world that p2p can do same, even better.
We need more startup boost companies to fasten up a progress.
i would say that 80% people in the world never heard what is cryptology, or heard but didnt understand a thing.
It is no matter if bank fees will grow up.
they would believe banks, all the time. complain about that, but do that.. all the time..
They grew up with banks, adoption.
:) my english is terrible

You must be from Europe. Most of the world has some pretty insane ATM fees. I am not sure why there is no such thing in most of the EU but that is the exception not the rule.

There is some insane charges if you are from The US visting the EU if you have a standard crappy bank because you have to pay transfer fees two beers in germany cost me 22 dollars... but luckly since then I have switch banks that accommodate international travel

i am european as well. ATM is free of charge here too.

Yeah I am from EU. Never paid any atm fee, and I used already 5 banks in 3 countries. But, if I recall correctly, there indeed used to be some fees about 5-10 years ago, which were pretty annoying.

US banking lingers in the dark ages compared to Europe.

It is a free market.
Bank charges will go down, once there is competition from bitcoin.  :)

I am not sure about the EU, although ATMs that are not owned by the bank that issued your ATM card will charge you an arm and a leg by both the ATM operator and the issuing bank, even if you just use it to check your balance.

People always find a way around to minimize fee.

Is there a way to withdraw money without using ATM?

People actually act in a very opposite way. They tend to value convenience over low prices and are willing to take money out of an ATM in the middle of the night (and paying for the privilege for doing so) instead of waiting ~9 hours for the bank to open back up to be able to withdraw funds from a branch. Or even walking a few blocks to find a ATM that is owned by the bank that issued the ATM card

I don't think it will be easy for them to arbitrarily increase the fees. Many customers are price sensative and would opt to other bank offering low fees. The gov is regulating the banking industry and pushing them to eliminate unfair charges.

The major banks tend to act as a cartel and have similar charges.

This is not true. Banks are very competitive with each-other. The published fees that banks advertise are generally higher then the actual fees that effectively are charged because banks are pretty liberal about reducing/waiving fees when they are charged to a customer the first few times.

Banks do try to cross sell multiple accounts to customers, which makes them less likely to switch banks when prices/fees increase.

I think it is perfectly natural in the world of banking, all costs, price increases must be accompanied by an increase in service to customers, the need for power at ATM machines has increased, the need to maintain employee payroll ATM machines should increase as well, so it's all proportional, directly proportional to the cost of services performed by the bank ...  8)