ATM and Bank Fees On The Rise

[Cobra9777]

Who uses cash anymore?...

We keep about $300 cash at the house. DW and I draw from it as needed. We use it for things like parking fees at concerts and sporting events. DW uses it for donations at various events, like a fund-raising yoga class that she attends every week. We also use it at the local Farmers Market and similar arts festivals, etc... partly for convenience and to keep costs down for small vendors, but also because I don't fully trust those little iPhone attachments. We also use a lot of cash when traveling outside the US.

I replenish the stash as needed, typically once or twice a year. I use the ATM at our neighborhood CVS and Fidelity refunds the $3 fee as soon as the charge hits.

 

[aja8888]

Who uses cash anymore?
I have not withdrawn cash from an ATM more than about twice in the last 30 years.

Well, you must be an exception to the norm then.

Pretty much all landscaping crews around us ask for cash for small jobs. Of course, they are 99.5 % Hispanic crews and many don't use banking services like a lot of folks who own homes and have traditional employers.

I use cash to tip waitresses and for personal service workers.

DW "likes" to have cash on her when out and about (it's a personal thing for her, for me, me not so much).

Rather than go into the bank to withdraw cash, I just use the drive thru ATM.

 

[RobbieB]

I fill my wallet at the grocery, 2 BofA atms inside. Always have $100-300 in wallet, when down to a hundred hit atm for 200.

 

[Senator]

Well, you must be an exception to the norm then.

Pretty much all landscaping crews around us ask for cash for small jobs. Of course, they are 99.5 % Hispanic crews and many don't use banking services like a lot of folks who own homes and have traditional employers.

I use cash to tip waitresses and for personal service workers.

DW "likes" to have cash on her when out and about (it's a personal thing for her, for me, me not so much).

Rather than go into the bank to withdraw cash, I just use the drive thru ATM.

The cash and black market economy is pretty big.

 

[ExFlyBoy5]

The cash and black market economy is pretty big.

Yes it is. We saved an not-so-insignificant amount of money on some work around the house by paying in cash. Quite a bit more than I would have gotten with my 2.5% cash back card.

 

[kcowan]

Our housekeeper wanted cash and I suggested I would pay her credit card regularly. That has been working for 2 years. She gets enough cash from her other clients.

 

[Chuckanut]

Here's a bank that has not gone fee crazy:

https://www.chimebank.com/

If you don't keep large amounts of money in your checking account and therefore want to earn a high interest rate, it might be useful.

No overdraft fees. No monthly maintenance fees. No monthly service fees. No minimum balance fees. No deposit required. No foreign transaction fees. Over 38,000+ fee-free MoneyPass ATMs.

 

[ziggy29]

Who uses cash anymore?
I have not withdrawn cash from an ATM more than about twice in the last 30 years.

Plenty of people still do. Sure, I use my credit card with 1.5% back on everything (and 3% off on some things from time to time) when I can at larger businesses (I tend to not hit small locally owned businesses with those CC fees), but sometimes when someone doesn't take credit cards, or for small purchases (like under $10 or so), and if I don't want my purchasing habits tracked, I can use cash.

My CU (based in California) will reimburse up to $20 per month in ATM fees but I usually use the fee-free ATM at the CU here in town that is in the COOP network, since I'd rather my CU keep that money instead of giving it to the big banks.

 

[rk911]

Who uses cash anymore?
I have not withdrawn cash from an ATM more than about twice in the last 30 years.

lots of people. lady in front of me at the grocery today paid in cash. my wife and i each get $100 every now and then for those expenses where CCs aren't accepted...barber, tips, band candy, etc.