While most people agree the new non-customer ATM fee hike by Bank of America and others is simply a rip-off, these banks actually think the strategy will encourage people to become customers of the bank.
The strategy is that consumers who have smaller banks with fewer branch locations will decide they should switch to a bank with several thousand branches, in order to avoid having to pay the fees when they need to use the ATM to withdraw money.
Personally, it makes me want to steer clear of these banks all together, and find another bank that isn’t pulling such a stunt with fee increases to try and force customers to get an account with them. I might just take the money out of my ATM before I leave town; or write more checks instead of withdrawing cash. Plenty of options to avoid that ATM fee. I see no reason to run inside the bank and open a new account!
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