Avoid ATM Fees by Getting Cashback in the Store
Avoiding bank fees is one of the pillars of financial well-being, but it can be challenging to achieve when it comes to the unplanned moments when you need cash. Why should you pay to access your money at an ATM just because the ATM is located in a different bank? If you’ve ever felt cornered by an offline ATM when you need some cash, look past this ATM. Do you see a large chain supermarket or pharmacy nearby? If so, you’re in luck. You can probably get cashback at the checkout.
This tip is from Reddit user @corcoran_jon , but it’s so simple I can’t believe we haven’t discussed it here at Lifehacker before. Here is their strategy:
Switching to online banking a few months ago made it difficult to access bank-compatible ATMs and cash until I realized that a trip to my local grocery store offered me a solution.
Now, instead of paying an ATM withdrawal fee, I go to the grocery store when I need to buy food and get cash.
This lean method saves me about $ 20 per million in ATM fees.
If you usually pay by credit card when shopping for essentials, you may not have noticed this option, which appears when you swipe or lower your debit card. Many major stores offer $ 20-40 cashback when you make a debit purchase at the checkout or self checkout. Others may offer amounts ranging from $ 60 to $ 100.
If you’ve never received cashback when making a purchase at the checkout, get some advice from someone who does it all the time (me).
Pay attention
Watch out for “No cashback at the checkout” signs, which indicate that the cash drawer is too small to fulfill your request. I once pressed the refund button on the checkout panel, looking at the cashier’s sign with both eyes, and felt terrible about the chaos it caused for the employee who was forced to cancel the transaction and call again.
To be attentive
If you pick up the checkout during or after a typically busy time (like Saturday morning at the grocery store), it’s a good idea to ask the cashier if cashback is available. If I ask for more than $ 20 at a store where I shop regularly, I usually ask to make sure I don’t kill the cash drawer.
No really, be careful
Do not, under any circumstances, use the cashback option as a personal bank. You get what the cashier gives you, and that’s it. Judge John Hodgman agreed with me in the New York Times . This is an additional nuisance for someone who is already juggling too many balls in the air, probably for not enough money. “Use small bills to tip service workers, not as an excuse to force them to do their homework from your wallet,” Hodgman scolded the couple, who asked for specific small bills at the grocery store.
If you got cash at a self checkout counter and there is no queue at the customer service counter, you can ask if they would break your $ 20. But only if there is no line! Otherwise, you can turn around and go buy yourself a pack of chewing gum for a crisp, fresh $ 20.