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Banking tips: How to reduce ATM fees

You know how it feels: You look at your banking statement and gasp when you see all the fees you have been charged for using automatic teller machines (ATMs). Fees for ATMs can really add up, but there are ways you can manage and even reduce them. It all comes down to using your debit card wisely.

Some banking institutions charge a regular monthly fee that allows you to withdraw money at any ATM. Some accounts allow a limited number of ATM withdrawals or other transactions every month and then charge fees if you go over the limit. When you choose a personal checking or savings account, make sure to ask your banking professional about any limits on ATM use or other transactions.

Most financial institutions charge a network access fee when you withdraw money at an ATM that it does not own. Many of the checking and savings accounts we offer for your banking needs have no ATM fees associated with ATMs in our network.

If you use an ATM owned by a different financial institution, you will most likely be charged an additional convenience fee. These can range from $1 to several dollars. If you have multiple transactions in a given month, they can really add up.

Our Kasasa Cash, Kasasa Cash Back and Kasasa Saver banking accounts pay account holders up to $15 per month in refunds of ATM fees. .

Tips to save on ATM fees

You can keep ATM fees as low as possible with a few tweaks to your banking behavior.

  • Use ATMs operated by your own financial institution whenever possible to avoid convenience fees.
  • If you are one of our account holders, remember that you can use our ATMs without paying extra fees.
  • If your account has a limit on ATM transactions per month, you can reduce overage fees by making fewer withdrawals. Try to group transactions by taking out larger amounts of cash that will last you for a longer period of time.
  • Find out whether your personal account charges a fee for payments made directly with your debit card at the point of sale.
  • Some retailers offer cash back when you pay for a purchase with your debit card. Before you do this, ask whether they charge a fee for the service.
  • Remember that if you use a credit card for a cash advance at an ATM, you will be charged daily interest on the purchase. There might be additional service fees, as well.
  • Before you travel, inform your financial institution so they can put a “travel advisory” on your card, which will prevent your use outside the country from raising fraud or theft concerns. If you are a First Utah Bank customer, call 801-908-0180 before you leave.
  • Check your monthly account statement (or view your account online if you use Internet Banking) and notify your financial institution if you think there are fees you should not be charged, or if you see any transaction you didn’t authorize.

If your debit card is lost or stolen

Inform your financial institution immediately. Customers who have our Visa® debit card can call 1-800-528-2273. We also offer our customers debit cards with Smart Chip technology. This encrypted microchip is embedded in the card and is more secure than the older technology that relies on a magnetic stripe. Our Visa® debit cards can still be used in older mag-stripe readers, but as merchants roll out the new technology, it will provide added security for our customers.

Ask us anything

If you have questions about debit cards, ATMs or anything related to banking in Salt Lake City Utah, stop by any of our First Utah Bank office locations. You can also call us during regular business hours at 801-308-2273 or email us through the Contact Us page on our website.