Bank ATM fees are going up

[polynesia]

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

[a447513372]

What the hell? I never paid any atm fee.

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.

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.

[Justine]

This is good for bitcoin...
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.

People always find a way around to minimize fee.

Is there a way to withdraw money without using ATM?

[santaClause]

This is good for bitcoin...
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.

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

[chennan]

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.

[panju1]

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.

[money420weed]

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.

[DhaniBoy]

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 ...