Question

Imagine that you are at event that you bought tickets for you want to buy a souvenir from one of the vendors but realize that you do not have any cash which is all they accept you go to the ATM and find it is going to charge you $3 to withdraw money from your account do you accept the charge and get cash? Why or why not

Answer 1

You must accept if this ATM does not belong to your bank.

The fees charged in ATM are intended to limit you from successively withdrawing money and using ATMs outside the "network" that your bank has.

In this case, if you withdraw money from ATMs of other banks, you must accept the fee charged or you will not be able to withdraw that money.

To avoid this fee, you can:

Do not use ATMs from other banks. Using a credit card to complete purchases.

Looking for your bank's ATMs.

It is important to note that ATM is an acronym that stands for Automated Teller Machine. This is the machine that represents your bank and allows you to carry out economic transactions, such as withdrawing or transferring money.