Washington Mutual ATM
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Washington Mutual is no longer known as the bank with the no-fee ATM. The bank now charges those who use their ATMs without being an account holder, which is something that most other banks have done for years. As of now, customers in Florida, Georgia, Illinois, Nevada and Oregon pay $2, while the fee is $1.50 in most other states. A spokeswoman for Washington Mutual says that ATM lines had gotten longer, due in most part to the lack of fees. Washington Mutual never charged non-customers for using its ATMs in Oregon & Washington, and it extended the policy to the other states years ago. The income made by the surcharges is modest, and is used to upgrade and expand Washington Mutual’s ATM network, which consists of nearly 3,500 machines nationwide (almost 250 of which are in Washington). However, some customers disagree with the thought that the fees were put in place to cut down on ATM waiting times; Kathy Flynn, a Washington Mutual customer for over 20 years, says she’s never had to wait long for an ATM and that the company is doing it to line their pockets. The Washington Mutual ATM fee is just a part of the ever-growing cost of using the automated teller machine; the average surcharge for a non-customer to use one has risen over 40% in the last few years, to an average of $1.40. Most banks, including Washington Mutual, charge fees for customers who use ATMs that are outside the bank’s network. According to bankrate.com, American consumers spend over four billion dollars per year using ATMs that are out of their network. Banks are charging more for using the ATM because more and more people are forgoing them in favor of debit cards. | |