Well, it was bound to happen. I love my bank. (TD Bank, in case you were wondering. The bank with Regis Philben and Kelly Ripa in all of the commercials.) They’re open late, open on weekends, and they’ve always provided me with excellent customer service. They even have a free change counter in the lobby for, you know, counting change.
I also felt pretty smug about my choice because I never paid ATM fees. Not only did TD not charge me for going to other banks’ ATMS, they occasionally reimbursed me for other banks’ ATM charges.
I felt very above the fray.
And then this week I got a notice from TD Bank. A very sad notice.
“Beginning March 9, 2011, when you use your TD Bank ATM card to get cash at a non-TD Bank ATM, your account may be subject to ATM transaction fees from TD Bank and from the financial services provider who owns the ATM.”
And just like that, I’m paying ATM fees again. This is a slight problem because, while I love my bank, I don’t pass anywhere near a branch on a day to day basis (despite the fact that I see 27 other banks on my walk to and from daycare). So my free checking account may look a little less free when I’m shelling out cash every month at non-TD ATMs.
Is it worth expanded lobby hours and a free change counter if it’s a hassle to get to the bank-branded ATM? Only time will tell, I suppose.
Why do you belong to your bank? And what would they have to do to make you look elsewhere?
(Comic from DrJohnBullas on Flickr.)
I moved to SunTrust when they opened a branch inside my favorite grocery store. And gave me $50.00 to open the account. And then gave me $100.00 to use online bill-pay. I guess on-line statements are next. But, they’re going to have to pay me to sign up!
I would most likely leave them if they closed this branch, because the other two branches in town are just too out-of-my-way.
I don’t use ATM’s, so I can’t comment about the fees.
Have you thought about getting cash back when you use your debit card at a store? It could keep you from having to use the ATM at all.
By: Patty on February 25, 2011
at 6:09 pm
Hi Patty. Yes, I’ve definitely thought about ways to avoid ATM fees (and even wrote a post about it a few months ago). Unfortunately, I’m just not a fan of using my debit card for everyday purchases, for a variety of reasons. And there’s also a chance that I’m moving to an area where there’s no TD Bank nearby at all, so switching banks is likely going to make the most sense for us in the long run. Thanks for the comment!
By: Kate Ashford on February 26, 2011
at 10:04 am
I bank with a credit union I’ve had an account with for 30+ years (I know, I was a smart toddler). I love it and I can’t think of any fees I pay with them. Because credit unions are typically based on geographic locations, several have joined into a national coop for their members to access ATMs fee free. That’s been rather handy as I’ve lived and wandered all over the place. As for a reason to leave, I haven’t been tempted yet.
By: Cyndee on February 26, 2011
at 3:37 pm
I bank with a credit union I’ve had an account with for 30+ years (I know, I was a smart toddler). I love it and I can’t think of any fees I pay with them. Because credit unions are typically based on geographic locations, several have joined into a national coop for their members to access ATMs fee free. That’s been rather handy as I’ve lived and wandered all over the place. As for a reason to leave, I haven’t been tempted yet.
By: Adele on March 2, 2011
at 10:32 am
What would my bank have to do to lose my business? Make repeated mistakes and then insult me. In a 60 day period, the one bank that I do business with inexplicably changed my address on their own, suspended my debit card and caused me severe inconvenience and embarassment, suspended my online account, reversed part of a transaction without telling me and, when I questioned them, told me to do my own statement research for the problem they caused. I’ll be closing that account this week. During the same week, my credit union (who I adore), also caused two inconveniences, and bent over backwards to make it up to me. Credit unions are now, more than ever, the way to go!
By: Darla on March 13, 2011
at 7:21 pm
So many people are big fans of credit unions. There must be something to it! Thanks for the comment.
By: Kate Ashford on March 16, 2011
at 9:57 am