Never Pay ATM Fees

ATM fees for out-of-network transactions can be outrageous. Transaction fees can be as high as $4, plus an additional fee of $2 charged by your bank for using an out-of-network ATM. That means if you are getting $100 in cash, you are paying around 5% in fees to have access to your own money.

If you are traveling, it can be difficult to find an ATM location that is in your bank's network. However, there is a solution to this problem. Some online banks such as Etrade bank or Schwab bank, will refund all of your ATM fees any time you pull out cash from any bank. Furthermore, they won't charge you for using another bank. The result is that you can get cash anywhere without being charged (there may be a limit to the number of free transactions per month).

If you are reluctant to close your bank account and switch to one of these banks, then don't. Simply open 2 accounts at the same time. Transfer a little bit of money to your online bank and then pull out cash for free when you need it. Its a great option that can save you lots of wasted money on ATM fees.