Katy McKenna Raymond  
Personal blog of christian writer Katy McKenna Raymond in Kansas City, Missouri

Personal blog of christian
writer & fallible mom
Katy McKenna Raymond
in Kansas City, Missouri

Anybody Wanna Make A Quick Five Bucks?

I’ve got five bucks that says we Americans are paying WAY too much for ATM fees.

I’ll tell you right now that I’ve never used an ATM machine, except for a few times in Europe and man, did we pay for the privilege. But this isn’t about the Old Country. This is about the good old U.S.A.

The reason I’ve never used an ATM machine is simple. It costs money, and it’s no more convenient for me (perhaps even less) than getting cash when I use my debit card at WalMart or Target or the grocery store. ALL of those places---and a gazillion more--routinely ask upon checkout if I want “cash back.” If I realize that I need a bit of green for walking about, I ask for a $20 or whatever. It’s a free service. FREE.

Here we are, calling into Idol Gives Back and contributing millions of dollars out the goodness of our hearts, helping the disadvantaged both in our own country and in Africa. Here we are, planning how to spend our rebate checks, or even planning how to get out of debt with that money or start a much needed emergency fund.

I’ve got an emergency fund for you, fallible ones! I just read how much Americans spent on ATM fees in 2007. I’m not going to link to the article just yet, but let’s just say the amount could pay off the national debt of a few small countries.

For the commenter who guesses the closest (and I’m trusting you not to search for the answer before commenting), I’ll send you a $5 bill via the US Postal Service. That should cover your next cash withdrawal, assuming you use an ATM not associated with your own bank, and get charged twice for the so-called convenience.

While I’m at the USPS, I’ll probably ask for a $50, just in case you’re wondering.

Posted by katy mckenna on 05/03 at 09:48 AM
Fallible Comments...

  1. I may keep this contest open until Monday night or so....

    Posted by katy mckenna  on  05/03  at  01:45 PM

  2. I’m guessing $360 million… !  (I have no rationale, it just seemed like a good number!)

    Posted by  on  05/03  at  06:15 PM

  3. total guess… $235.6 mil

    Posted by Kelley  on  05/04  at  08:15 PM

  4. ok! let’s have a fun and make a wild guess… $957 million.

    It has to be a boatload since some of those places charge you a transaction fee and some banks charge you on top of that. i refuse to be a part of that system! like you… it is cash back at the store or debit card.

    Posted by joshua  on  05/04  at  09:52 PM

  5. 1.2 billion. Completely wild guess. But I can’t pass up an opportunity for a five dollar bill! That’s a gallon of milk and then some!!

    Posted by  on  05/04  at  10:18 PM

  6. It has to be 4.5 billion...because the number ‘45’ continues to have a soft spot in my heart!

    Posted by  on  05/04  at  11:33 PM

  7. Okay...a total guess...$3.2 billion.

    Posted by  on  05/05  at  04:57 PM
    8. Page 1 of 1 pages

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