this post was submitted on 27 Jul 2023
313 points (96.7% liked)

News

23361 readers
3354 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] brimnac@lemmy.world 10 points 1 year ago (2 children)

And the transaction fee goes right to the bank.

[–] PaulDevonUK@lemmy.world 8 points 1 year ago (5 children)

You get charged for a cash withdrawal? That's rare here in the UK.

[–] Sylver@lemmy.world 20 points 1 year ago

Charged by the ATM and sometimes also charged by your bank for using an ATM

It’s a scam

[–] brimnac@lemmy.world 16 points 1 year ago* (last edited 1 year ago)

“This is America.”

Most do. I use a bank that reimburses the costs.

[–] mrbubblesort@kbin.social 11 points 1 year ago

America's national motto is "Yup, there's a fee for that!"

[–] MightBeAlpharius@lemmy.world 7 points 1 year ago (1 children)

Banks are kind of shitty here - if you use another bank's ATM, your bank (or the other, or sometimes both) will charge a small fee. Usually it's something like $3, but some smaller banks and credit unions will actually pay all of those fees back, so a lot of folks don't even notice that it's there.

This specific situation is weird because it's a dispensary, though. Thanks to the vagaries of local legality and federal illegality, the dispensaries are totally good selling drugs, but the banks are very much not good openly handling the payments for those drugs. Because of this, most dispensaries will contract their debit payments through a payment processor that can register their card readers as "cashless ATMs," and who will effectively launder all of their debit transactions. The end result of this is that while the customer can pay with a card like a normal store, they end up having to choose between paying the ATM fee at the ATM, or at the register.

[–] afraid_of_zombies@lemmy.world 1 points 1 year ago

The situation makes sense from the pov of the banks. They get to charge you more and get that money instantly for the same transaction.

How it should be: most customers use cash, sometimes they use a card and the dispensary sends a small amount of money (at the end of the month) to the bank for being involved in the process.

How it is: everyone uses an ATM as individuals and get charged a huge non-negotiable fee for that and the banks make money the moment you withdrawal any.

Always look at who gains from a situation to understand the situation.

[–] afraid_of_zombies@lemmy.world 1 points 1 year ago (1 children)

It got a lot worse in 2008. The federal government shutdown about a third of the banks for not being big enough and with the drop in market competition they started slapping fees on everything.

Never forget what the economists took from us.

[–] TimeSquirrel@kbin.social 1 points 1 year ago* (last edited 1 year ago) (1 children)

ATM fees in the US have been a thing since ATMs have been a thing. It's not new and didn't start in the great recession.

And what do you mean by the government shutting down banks? Banks were killing themselves by doing dirty financial tricks and approving garbage loans and playing hot potato amongst each other with them.

[–] afraid_of_zombies@lemmy.world 1 points 1 year ago

Stress tests. Go read up on it. About 1/3 of banks, almost all midtier, were shutdown by the US government after the crisis has passed. Leaving places like Goldman (which caused the problem to begin with) with less competition. There are less baking companies in the US now then in 2007.

[–] TORFdot0@lemmy.world 2 points 1 year ago

The fee goes to the bank when you use your debit card at the cash register it’s just the merchant that pays it then