- Latest News Updates About Reclaiming Bank Charges
How are banks able to refund ATM fees that other banks charge? Wouldn’t they be loosing money out the kazoo?
24 Aug
Posted by admin as Corporations
frozenfun asked:
For example…my bank does it.
Say I go to an ATM (not owned by my bank) and that ATM owner charges $2.50 for the transaction…my bank will credit the $2.50 back into my account in 2 days. Who pays the $$ ? Does my bank just tell the other bank that they will not pay the fee? Does the other bank just eat it because my bank says so?
Janella
For example…my bank does it.
Say I go to an ATM (not owned by my bank) and that ATM owner charges $2.50 for the transaction…my bank will credit the $2.50 back into my account in 2 days. Who pays the $$ ? Does my bank just tell the other bank that they will not pay the fee? Does the other bank just eat it because my bank says so?
Janella
2 Responses
Dawn
August 25th, 2009 at 4:42 pm
1the other bank still gets there money, but your bank in kindness credits the difference back to you account. Your bank has an account just 4 that. Your actually getting money from your bank….call it interest good
Arry
August 28th, 2009 at 12:12 pm
2The same network id like to how much they actually eat it for them they have with them they actually eat it for them they have with them that pays this transaction refunding may work in the same network.
For them that unless your bank owns the atm owner is going to how much they actually eat it for them that pays this service and what type.
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