How to avoid ATM fees

Here, we usually try to avoid cash payments to maximize credit card rewards. But sometimes, there’s no other option and you find yourself running to the nearest ATM to withdraw cash. And if the ATM isn’t in your bank’s network, you’ll likely be hit with a nasty ATM fee.

Are you tired of ATM fees eating away at your account balance? Here are five ways to avoid them.

Plan ahead

It may seem obvious, but the best way to avoid ATM fees is to plan ahead for when you need to pay with cash. That way, you have time to use your free cash instead of being surprised at the last minute when you’re frantically searching for a nearby ATM.

Think about your activities ahead of time. If you are attending an event that requires parking, will they only accept cash? Likewise, if you are going to the local county fair, will they Ability to accept credit cards for some things, but you may need some cash to pay for games or snacks.

Also, it is always a good idea to carry some urgent Cash. Keeping a few twenties in your wallet is a great way to ensure you’re never caught without cash and have to pay ATM fees.

Related: Tips to save money when withdrawing money from ATMs abroad this summer

Maintain the network

If you know you need to withdraw cash, going to an ATM within your bank’s network may be the easiest option. Your bank won’t charge you an out-of-network ATM fee if the ATM is within their network. While you’re at it, take a little more cash than you think you’ll need so you have an emergency reserve in your wallet.

For example, if you have a Chase debit card, you’ll want to find a Chase ATM to avoid fees. Conversely, if you use your Chase debit card to withdraw cash from a Bank of America ATM, you’ll be charged an out-of-network ATM fee.

Get cash back

If you request a refund for an in-store purchase, you won’t be charged an out-of-network ATM fee. Just buy a small item, like a pack of gum, and pay with your debit card.

At checkout, you can ask the cashier or select the appropriate button on the self-checkout machine to request a refund. At that point, the process is similar to an ATM: Just ask for your desired refund amount. Except for small purchases, you will receive the necessary cash at no charge.

Use mobile payments

What happens if you run out of emergency cash and realize a merchant won’t accept it? credit card? Before running to an ATM, ask them if they accept mobile payment. Sometimes a merchant can scan the card in your mobile wallet even if they don’t have a physical card reader.

If so, setting up a mobile wallet can save you money on ATM withdrawals.

Get your ATM fee refunded

Some banks will reimburse you for ATM fees you incur. payment account. This is worth considering if you are looking for a new bank. This feature can provide peace of mind when you need cash at the last minute.

For example, Schwab Bank’s high-yield investor checking account will reimburse ATM fees for domestic purchases.

This account is also useful when spending abroad. No foreign transaction feeand you’ll be reimbursed for any international ATM fees you incur. Additionally, the account has no minimum balance requirement or monthly maintenance fee.

The last line

Avoiding out-of-network ATM fees when you need cash is a good habit. To make sure you’re prepared for cash-only situations, plan ahead and withdraw cash from an ATM in your bank’s network or through a cash-back service from a retail store.

Setting up a mobile wallet or opening a bank account that reimburses ATM fees are also good options. With these strategies, you should be able to avoid paying out-of-network ATM fees.

Related: Top Checking Accounts to Avoid ATM Fees