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Make a resolution to skip the ATM fees in 2020

Consumer Tips
Make a resolution to skip the ATM fees in 2020

It’s your money, why should you pay to access it? Use machines in the CO-OP Network.

According to CNBC, ATMs really started to become popular in the 1980s. Now there are over 3 million ATMs around the world, with a new one being installed about every three minutes.

There’s an ATM owned by The National Bank of Pakistan at the Khunjerab Pass that sits 16,007 feet above sea level. There’s a floating ATM installed by The State Bank of India on one of the busiest ferries in the world. There are even two ATMs at the McMurdo Station in Antarctica.

Of course, you’ll likely never use ATMs in remote locations like this, but there are surely plenty of ATMs in the St. Louis area and throughout the country that you’ll find convenient.

Where to find free ATMs you can use

CO-OP Network ATMs might not have cupcakes, but they are free for you to use with your Arsenal debit card, which is still a very very good deal.

At Arsenal, we want you to have as much free access to your money as possible. In addition to the free ATMs at our branches, you also have access to nearly 30,000 surcharge-free ATMs across the country, including more than 250 in the St. Louis area. “Surcharge-free” means that the owner of that machine won’t charge you a fee. We take it one step further and make these ATMs totally free for you to use by not charging you a fee for using another credit union’s ATM in the network. 

Arsenal is part of the CO-OP Network, one of the largest ATM networks in the United States. Use your mobile app to find a free ATM on-the-go. Or, use this CO-OP ATM locator website. This gives you more direct, free access to your money than most bank customers have, as you can see in the chart below.


What happens if I’m not near an ATM in the CO-OP Network?

When you use an ATM that is not owned by Arsenal or in the CO-OP Network, you will most likely be charged two fees: One by the owner of the ATM and a $1.00 out-of-network fee from Arsenal.

The first fee (known as the “surcharge”) is set by the owner of the ATM. Banks usually charge non-customers anywhere from $1.50 to $3.50 to use their ATMs. Non-bank operators (think ATMs in restaurants, bars, concert venues, etc.) usually charge a much higher fee. If you go to a casino in Las Vegas, be prepared to pay up to $10.00 to access your money!

You’ll typically find higher fees on ATMs in places like this.

The second fee is charged by your financial institution. In your case, Arsenal has one of the lowest fees in the St. Louis area. Here’s what customers at big banks are paying:

  • Bank of America: $2.50 for non-BoA ATMs in the United States, or $5.00 if in a foreign country
  • U.S. Bank: $2.50
  • Regions Bank: $2.50
  • PNC Bank: $3.00 in the United States, Canada, Puerto Rico and U.S. Virgin Islands. $5.00 in all other countries
  • BMO Harris: $3.00
  • Commerce Bank: $2.50