Is there such a thing as a free atm? It depends which checking account your using. There are banks that give you every ATM in the world free with no required balances and no fees as you can see some from our Schwab article. There are also banks that will give every ATM fee if you keep the required balances. According to Chase they have the most ATM locations. I don’t bank there even though I worked there, because even if I’m their customer I still do not pay a fee when I visit their ATM. The reason is my bank pays the Chase’s ATM Fee. How it works is Chase charges the fee, I see the fee in my account, & then at the end of the month my bank reimburses me for all the fees for that month.
There’s also banks that have a combined network with other banks that have more ATM’s than Chase around the city.
However, there are a few places around the city that have free atm’s no matter where you bank. The company responsible for this is FreeATM.com & their system is simple. Instead of charging you an ATM feee they get paid off of ads. It makes sense, right?
We think so.