Cash is king, even if the jury is still out on how much you should carry on you at any given moment. What’s not up for debate is how frustrating it is to walk up to an ATM and have to authorize a charge for $2 or $3 for the privilege of accessing your own money. Yes, you can go to one of your bank’s ATMs to avoid the fee, but that’s not always feasible. Instead, you can choose a bank that will cover those fees for you. A select handful of banks and credit unions will do just that, provided you open a qualifying account. Let’s take a look at the most prominent banks and credit unions that will cover out-of-network ATM fees.
How to get reimbursed for ATM fees
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If you’re looking to switch banks and are sick of getting hit with persistent ATM transaction fees, consider opting for one of the following institutions.
Alliant Credit Union. Alliant Credit Union offers up to $20 a month in ATM fee rebates for members who use their Alliant Visa debit card. You should note while this does exclude a 1% Visa foreign transaction fee, they do deposit rebates in your account at the end of each day, getting the money back in your hands quicker than most.
Ally Bank. Ally Bank will reimburse up to $10 at the end of each statement cycle for fees charged at other ATMs for all of their personal banking customers.
Axos Bank. Axos Bank offers unlimited domestic ATM fee reimbursements for customers who have Rewards Checking, Cashback Checking, or Essential Checking accounts. They also offer up to $8 domestic ATM fee reimbursements per month for members with a Golden Checking account, intended for customers 55 and older.
Charles Schwab. With the Schwab Bank Visa Platinum Debit Card, you get unlimited ATM fee rebates applied to cash withdrawals wherever the card is accepted. To get this card, you need to have both a Schwab One brokerage account and a Schwab Bank High Yield Investor Checking account, which has $0 monthly service fees, $0 account minimum, and no foreign transaction fees. They also reimburse all ATM fees at the end of the month.
EverBank. Formerly known as TIAA Bank, EverBank checking accounts that don’t have minimum balance requirements offer up to $15 in ATM fee rebates each month. Accounts that require a minimum average daily balance of $5,000 provide unlimited reimbursement of ATM fees.
Fidelity Cash Management. With a Fidelity Cash Management account, you can get full ATM reimbursements on unlimited transactions. Also included with their debit card are travel and emergency assistance, worldwide travel accident insurance, and auto rental collision damage waiver.
LendingClub. LendingClub offers a rebate for ATM surcharges applied to cash withdrawals from a Rewards Checking account using the LendingClub Bank issued debit card. ATM fees will be rebated at the end of each statement cycle. Opening account requires a minimum contribution of $100.
TD Bank. TD Bank will reimburse ATM fees provided you have enough scratch—any surcharges will be reimbursed provided you maintain a minimum daily balance in your TD Beyond Checking account of at least $2,500.