During a money emergency, you may need to withdraw cash from an ATM quickly. For example, you might need cash to pay the tow truck or you might discover that the movie theater is only accepting cash because its machine broke down. Regardless of the reason, those emergency ATM transactions can add up quickly. It may not always be possible to find an ATM from your bank, but that does not mean it is impossible to reduce the unexpected expense.

Ask About Reimbursement Options

When you open up a bank account, ask your bank about any ATM reimbursement programs or options that may be available. Some banks will offer free ATM services and ATM reimbursement for out-of-network ATM fees if you sign up for online services or similar programs. Since the online services and similar programs are often free, it can help when you need a little bit of cash and do not have time to look for your bank’s ATM.

Make Use of Smartphone Applications

Smartphone applications that help you find a surcharge-free ATM in the nearby vicinity can help reduce the cost dramatically. Even though your bank may still charge a small transaction fee, which may be around $1 to $1.50 for most banks, the ATM will not charge an additional fee. That can cut the cost of fees by half or more, depending on the location.

Use Your Bank’s ATM

If your bank has a branch near your location, then use that ATM machine. An ATM from your own bank will not usually charge any ATM fees.

During an emergency, you may not have the time to search for a local branch of your normal bank. If you cannot find your bank or you do not have the time to get to it, then you can make use of reimbursement programs and surcharge free ATMs to cut the cost of withdrawing cash when you need the money immediately.

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