Often, cash withdrawals from an ATM are accompanied by the debiting of a certain amount of funds from the card account. At the same time, the fact of withdrawing the commission, and especially its size, becomes an unpleasant surprise for the cardholder.
Almost every adult citizen today has a plastic card. Many have 2-3 debit or credit cards in their pockets, from which their owners regularly withdraw cash. This procedure is not free, it is often accompanied by a very significant amount debited from the card account. However, not everyone knows exactly what banks charge a commission for when withdrawing money from an ATM.
What do cardholders need to know?
First of all, you should learn to distinguish between ATMs. "Own" ATM belongs to the bank that issued your card, for example, as part of a salary project or under the terms of a loan agreement. When you withdraw cash from a Visa / Mastercard debit card at “your” ATM, you usually pay nothing to the bank. Issuance of money by credit cards is always accompanied by the payment of a commission for “cashing out” the funds, since the bank assumes that you are obliged to spend borrowed funds only in a non-cash way. In different banks, the amount of commission varies from 2 to 5%.
All other ATMs, owned by other credit institutions, will be "strangers" to you. Withdrawing cash from them may be accompanied by the payment of a commission, and there are several unpleasant moments here:
- often you cannot find out the amount of the commission before the operation;
- depending on the terms of the agreement, you can pay the commission twice: both to your “own” bank and to some payment systems;
- there is not only a certain percentage of the commission for withdrawing cash, but also the minimum amount that you must pay to the bank for making a transaction.
For example, if the tariffs of the bank serving you say that the commission for withdrawing cash from ATMs of third-party banks is 2% (at least 200 rubles), then receiving 1000 rubles in cash from an ATM will entail an additional debiting of 200 rubles from the account. In other words, the bank's commission, in this case, will not be 2, but 20%!
How can you reduce the cost of paying commission?
Unfortunately, it will not be possible to "cheat" the bank: if the commission for withdrawing cash is specified in the tariffs, the money will have to be paid. Therefore, the first and most important rule regarding the use of banking services reads: "Carefully read the agreement and all its annexes!" The conditions and procedure for paying the commission are always indicated here. To minimize the cost of receiving cash:
- take from the bank manager a list of ATMs in the city that belong to third-party partner banks; withdrawing cash from them can be either free or cheaper;
- do not withdraw small amounts - it is expensive, cash out money at those ATMs where you can get the maximum amount of funds at a time (the amount of a one-time withdrawal of money in a “foreign” device varies from 2,000 to 10,000 rubles);
- withdraw money in the currency in which the card is issued, otherwise, in addition to the commission for withdrawing cash, you will pay the bank a commission for converting funds;
- remember that viewing the balance on the card or operations on it in “foreign” ATMs will cost you 10-100 rubles.
