[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]
We have a new Free Checking account with Wachovia Bank. The other day when we visited Bank of America's ATM we thought of checking the balance in our Wachovia Free Checking account. Everything well went well, until today, when we discovered a $2 ATM Fees on our Wachovia account. On calling up customer service we found out that transactions conducted only at Wachovia ATMs are FREE. Elsewhere there will always be a fee of $2 per transaction on a non-Wachovian ATM.
The representative also advised us that in case we could not find a Wachovia ATM nearby we could check our balance by using our check card for purchases at our local grocery store. Well we can do that online or by phone but point taken. He also advised us to be careful since the transaction cost might become expensive at a non-Wachovian ATM, as the bank whose ATM we are using might charge us a fee in addition to the $2 charged by Wachovia. Now we have to wait and see if Bank of America charges us a fee for using their ATM.
It is noteworthy that Wachovia's Customer Service was extremely accommodative and they reversed the $2 ATM fees since this was our first ignorant transaction with their check card at a non-Wachovia ATM.
Learning from this experience we would advise our readers to be aware of the rules of each bank before carrying out a transaction at a ATM.
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