"Tom S." wrote in message ...
"Ron Natalie" wrote in message
. ..

"Newps" wrote in message
news:ygdqb.113585$Fm2.101748@attbi_s04...



Must be an eastern thing, never heard of that.

Actually, it's an "internet bank" thing. Since these have no brick and
mortar branches (and
hence ATM's), they will generally credit you the charges back for whatever
ones you do use.

Considering it costs about $100K for each ATM, plus periodic maintenance,
it's great business sense for the eBanks to use competitors machines (which
are in place, at great cost) and just refund the fees the ATM owner charges.
Their customers would have to use EACH SINGLE ATM machine 30,000 to 50,000
times to cover the cost of having their own.

Just a minor correction. It costs nowhere *near* $100,000 for an ATM.
Cash dispensers can cost as little as $10,000, while good full-service
ATMs can be had for $25,000. We just installed a new drive-through ATM
at one of our branches. Total costs for the ATM + installation came to
under $32,000. The ongoing costs are significant, but certainly not
outrageous. The breakeven numbers for cash dispensers in particular
are very low indeed.

Cheers,

Cap