Remember the days when you had to visit your bank to withdraw cash? The evolution of ATMs has made it easy and convenient to access cash when you need it. In fact, advancements in technology over the years now enable ATMs to accept deposits, transfer funds between accounts, change your PIN, and more.

While ATMs are ubiquitous, they charge a fee for access to cash if they’re not owned by your bank. In this case, you could be charged two fees, one from your bank and one from the owner of the ATM. The fees can range anywhere from $2.00 to $6.00 per transaction.

Here are some useful tips on how to avoid the hassle of ATM fees.

• Use a Bank-owned ATM

By far the easiest way to avoid unpleasant ATM fees is to visit an ATM within your bank’s ATM network. If you bank with a large institution, then your options are plentiful; however, if your bank is smaller, your options may be limited. Franklin Savings Bank offers 8 ATMs and has a partnership with Meredith Village Savings Bank, providing its customers with fee-free access to 11 additional ATMs.

• Make a purchase using your Debit Card

Many stores allow the option to receive cash back when making a purchase. The cash comes directly from your bank account, just as it would if you were accessing money from an ATM. However, keep in mind some stores may require a minimum purchase for debit cards and might impose a limit on the amount of cash back.

• Use a Credit Card

The majority of credit cards come with perks, such as free airline miles, cash rewards, etc. Therefore, you may find it easier to swipe plastic to pay for purchases. Should you choose this option, remember to treat your credit card like a debit card – only spend the money you have in your account – to avoid accumulating unnecessary debt.

• Go Cashless

With all the options available to pay for purchases, is there really a need for cash? For instance, Mobile Wallet is a convenient alternative for paying for things using a mobile device. And, it’s accepted at thousands of stores and through mobile apps, like Apple Pay, Samsung Pay and Google Pay.

• Visit an In-Network ATM

While larger banks offer a vast ATM network, smaller banks, like Franklin Savings Bank, affiliate with large ATM Networks to offer access to thousands of ATMs. FSB is a member of the Allpoint Network, which provides fee-free access to over 55,000 ATMs across the U.S., Canada, U.K., Australia, and Mexico. Allpoint also offers fee-free access to cash at popular retailers, including CVS, Walgreens, Target, and more. To locate an Allpoint ATM, download the app from the Apple Store or Google Play Store.

• Use your Bank’s mobile app

Most banks offer a mobile app to enable customers to perform basic banking transactions. These apps can also be used to locate an ATM in the bank’s ATM network. Check your bank’s mobile app to see if this feature is available.

Often times people make decisions at the spur of the moment, which can cost money if you don’t prepare or take the time to learn more about all the options available for gaining fee-free access to cash.

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Written by Dawn Beers

Dawn Beers

Dawn heads up our marketing department where she is responsible for the general oversight and management of the Bank’s marketing and public relations initiatives. This involves managing the planning, organizing and directing of our advertising, public relations, product development, sales promotion and research efforts.

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