Political Corruption Is Responsible for $3 ATM Fees

 

How much does corruption cost you?  When you use a non-network ATM, it’s usually a $3 fee, just for accessing your own money.  The cost to the bank charging you that money, however, is just 37 cents.  That’s price gouging, and when you add it all up, it’s a total of $7 billion annually that goes from those who use out of network ATMs straight to the banks, card networks, and independent machine operators.  This problem is much worse if you are only taking out a small amount of money to get you through the day, like $20 or $50.  Then the fees eat up a big chunk of what you have. read more…

Political Corruption Is Responsible for $3 ATM Fees.

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