A Guide to Banks That Reimburse ATM Fees
Since the introduction of ATMs, the cost of easily accessing money through them has increased constantly over the years. However, while the charges for every withdrawal transaction at the ATM continue to rise, consumers are now enjoying multiple opportunities to avoid the fees or get a reimbursement from the bank.
Accessing your money through the ATM doesn't have to cost you so much. However, if you notice that your banks charge you high ATM fees without a chance for reimbursement, it's time to look around for a bank that doesn't charge ATM fees and move to it.
Banks that offer ATM fees reimbursement usually automate the process so that all the ATM users can get an accumulated amount of the charges back to their accounts. In case you need to contact your bank for a failed reimbursement, DoNotPay has a that can help you contact the bank and explain your case.
What Are ATM Fees?
ATM fees are charged by banks and interbank networks for using their Automated Teller Machines. These fees mostly apply when you use an ATM outside your bank's network for different services such as deposits, withdrawals, and balance inquiries.
ATM Fees usually go high because you have to pay twice:
- Charges by the bank
- The ATM operator applies a small fee.
If you make withdrawals frequently, the charges may pile up and cut out a big junk of money from your savings.
Most banks apply the ATM fees as a flat rate for any amount rather than a percentage of the withdrawal amount. Better still, some banks reimburse your ATM fees at the end of the billing cycle.
Which Banks Reimburse ATM Fees?
Most banks allow free ATM transactions within the bank's network but charge for out-of-network transactions. Most of those who charge ATM fees offer reimbursements. Here's a list of banks that reimburse ATM fees for all their customers.
- Axos Bank
- Paramount Bank
- Needham Bank
- Alliant Credit Union
- Ally Bank
- Discover Bank
Let's look at how each one of them works.
|Axos Bank||Axos Bank customers with a Rewards Checking account enjoy unlimited ATM fee reimbursements anywhere in the country. They also enjoy zero monthly maintenance fees and no overdraft fees on their accounts.|
|Paramount Bank||Paramount Bank offers its customers up to 20 ATM fee refunds per month. So, if you have more than 20 ATM withdrawals in a month, only the first 20 withdrawals will be refunded. The bank also charges monthly maintenance fees, but customers can easily avoid them by meeting the requirement of a minimum account balance of $1.|
|Needham Bank||Unlike other banks that limit the reimbursements for local transactions within the US, Needham bank offers ATM reimbursements for any transaction done anywhere in the world. If you travel a lot and make transactions often while on your trip, Needham Bank will be a great choice for you|
|LendingClub||No matter how many transactions you make at the ATM in a month, LendingClub offers unlimited ATM fee reimbursement for all its customers. Another advantage of using a LendingClub account is that you'll not need to pay any monthly maintenance fees, and the first set of checks will be free.|
|Alliant Credit Union||Unlike other banks that limit reimbursements to the number of transactions, Alliant Credit Union offers reimbursements of up to $20 a month. So, if your ATM fees exceed $20, the bank will refund $20, and the rest of the amount remain unrefunded.|
|Ally Bank||Ally bank operates online and is known for the many advantages that come with it. However, even though the bank offers ATM fee reimbursements, the cap is set at $10 only. Therefore, if our total ATM fees per month exceed $10, the bank will refund you $10 only.|
|Unlike other banks that charge you ATM fees and then refund you the amount, Discover Bank does not charge any fees. So, you can transact at the ATM without any charges for all the transactions you make at an in-network ATM. On the other hand, out-of-network ATMs may charge operational costs for any transactions.|
How to Get ATM Fee Reimbursement with the Help of DoNotPay
Although most banks are set to process ATM fee reimbursements automatically, some require you to follow up or request a refund. DoNotPay has a Fight Bank Fees product that can help you.
Here is how it works.
- Open the .
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
And that's it! DoNotPay will send the legal appeal letter on your behalf to your bank, so your fees get refunded! If your bank has any further comments, they'll reach out to you directly.
What Else Can DoNotPay Do?
DoNotPay can help you learn the following:
- Bank of America overdraft fees refund
- Chase Bank overdraft fees
- Do banks charge overdraft fees on weekends?
- Banks without overdraft fees
- TD Bank overdraft fees
- Bank of America ATM fees
- PayPal transfer-to-bank fees
- Fifth Third Bank overdraft fees
- Citizens Bank overdraft fees
- Wells Fargo checking account overdraft fees
Check out to get started.