Thankfully, you are not at the total mercy of your bank and ATM machine. These days there are a number of options open to you that enable you to avoid nasty ATM fees. Do you know what they are? Take this quiz on avoiding ATM fees to see if you're an ATM maven.
When were ATMs first introduced?
in the 1960s
in the 1970s
in the 1980s
What makes ATMs so convenient?
You can find them on just about every street corner.
They give you freshly minted, unused bills.
There's no waiting in lines and you don't need to find a branch of your bank.
In 2009, what was the average fee for an ATM transaction at your local branch in the U.S.?
What is a "foreign" ATM surcharge?
a "strange" surcharge that appears to make no sense to you
a conversion fee for changing foreign currency through your ATM
a fee for when you perform an ATM transaction not through your own bank
Do all banks charge ATM fees?
only those in the U.S.
If you're out of town and need the services of an ATM, but you don't have a branch of your bank in the area, what can you do?
Make sure to sue in court if another bank charges you for using their ATM for just one time.
Drive much further than you need to go, in order to locate a branch of your specific bank that has an ATM.
Phone your bank to see if they have a reciprocal arrangement with another bank that doesn't charge.
How much will USAA Bank refund for ATM use?
up to $10 a month
up to $15 a month
up to $20 a month
Under what circumstances might a bank change its fees?
when one bank buys out another
when the bank manager feels like it
when the bank is short for funds
Which of these are no-fee ATM networks?
FeeFree and NoPay
Bank of America and PayPal
Moneypass and AllPoint
Why is it sometimes a good idea to carry cash on you?
so you can put charity into charity boxes
in order to save on ATM fees by not using an ATM too often
because it's fairly lightweight anyway
Is the fee for an ATM transaction dependent on the amount you withdraw?
Yes. In fact, the more you withdraw, the lower the fee as an incentive from the bank.
Yes. The more you withdraw, the higher the fee.
No, it's a flat rate.
Why would you write out a check for more than the purchase price in some stores?
because it covers them for bounced checks
because they charge extra when you use a check
because they're willing to give you back the difference in cash
In what decade were private ATMs legalized?
in the 1980s
in the 1990s
in the 2000s
Are private ATM fees higher or lower than bank ATM fees?
Private ATMs have higher fees.
Private ATMs have lower fees.
They both have identical fees.
How popular are checks as a form of payment?
Not very. People usually use them when they can't pay by credit card.
Very. People use checks more often than they use credit cards.
Reasonably. People use checks and credit cards interchangeably.