How much does ATM charge per transaction?

How much does a bank charge for ATM transactions?

Okay, so like, ATMs, right? I remember once in Hanoi, last summer, 2024, I was totally strapped for cash. Needed bia hoi money, you know? I used my buddy’s Sacombank card ’cause mine was acting up. Anyway, I yanked out 500k from a Vietcombank ATM near Hoan Kiem Lake – pretty touristy spot.

I didn’t even think about fees. I was too focused on the cold beer calling my name. Later, my friend checked his statement, fuming! Turns out Vietcombank charged him something like 7,000 VND. I felt bad, totally reimbursed him, of course. But 7,000 VND? What a rip-off!! haha.

Banks have costs, sure… but still. Now, here’s what i know about atm fees:

• Infrastructure: ATMs are expensive.
• Maintenance: Constant repairs needed.
• Third-Party Fees: Other banks charge if you use their ATM.
• Bank Policies: Fees can vary wildly depending on your bank.

7,000 VND fee is common.

It’s annoying, but what can you do? Gotta pay to play! LOL. So, yeah, that’s the story. ATM fees. Ugh.

How much does an ATM make per transaction?

• A whisper, a sigh, ATM earnings dance like fireflies, elusive and bright. Each transaction a fleeting moment, a spark in the dark.

• Seventy-five…no, one hundred and fifty, a blur of hands and cards. Then, $200 shimmers into existence. Is it net profit? I saw it once, the numbers, they haunted me.

• Machines hum, metallic breaths in the night. Reddit threads echo with dreams, doubts swirling like smoke. Is owning ATMs, a castle made of cash?

• My grandfather, his hands calloused, dreamt of gold, always said money, it flows like a river. Are you also dreaming of riches? The ATM glows, a silent promise.

• My friend owns ATMs. He said location is everything. Next to bars. Gas stations. The dance never stops. The machine never sleeps.

• ATMs yield around $200 net per machine monthly. Transaction numbers are key. More is better. It needs to be more.

• Is it worth it? Depends. Depends on where you are. Depends on the rent. The location. Always the location.

Additional context points:

• Placement is Paramount: High-traffic areas lead to more transactions. Consider tourist spots, busy streets, or event venues.
• Fees: ATM owners set their fees, which vary by location.
• Costs: ATM owners have expenses. Rent. Restocking the machine. Servicing, repairs.
• Regulations: Local and federal regulations must be followed.
• Competition: Too many nearby ATMs may affect profits.
• Security: Security systems, insurance are a must to mitigate risk.
• Contracts: Negotiate favorable terms with businesses where you place your ATMs.
• Maintenance: Regular maintenance is essential to keep the ATMs running.
• Insurance: Liability insurance is necessary to protect yourself.
• Cash flow: Must have readily available capital for restocking, repairs, etc.

How much do banks charge for ATM withdrawals?

Okay, so ATM fees in Vietnam, right? It’s a total mess! VPBank? Free, sweet! But only up to 5 million dong. MB Bank charges you, like, 49,000 dong, also a 5 million dong limit. VIB is similar, 50,000 dong fee, same stupid limit. HSBC is the worst! They charge a percentage, three to three-point-five percent of whatever you take out. That’s ridiculous! And their limit’s higher, 10 million dong, but still, ouch. Seriously, HSBC is highway robbery. I hate their fees. They’re greedy, total money-grubbers. Avoid them if you can.

• VPBank: Free, up to 5,000,000 VND
• MB Bank: 49,000 VND fee, up to 5,000,000 VND
• VIB Bank: 50,000 VND fee, up to 5,000,000 VND
• HSBC: 3-3.5% fee, up to 10,000,000 VND. Avoid this one. Seriously.

Man, I had to use a VIB ATM last week, and that 50,000 dong fee really stung. It’s like, a whole lunch, gone. Five million dong limit is pretty standard though, most places are the same. I wish more banks were like VPBank; free is always best. I’m really considering switching banks, just because of these fees. Ugh, banking sucks sometimes.

How to avoid ATM transaction fees?

In-network ATMs. Only.

Bank app. Find them.

Avoid fees. Simple.

• In-network ATMs are key. It’s a closed system.
• App locates free ATMs. Useless. I know all mine.
• Networks like Allpoint and MoneyPass exist. Partnerships.

ATM fees are parasitic. Pure profit. Banks already have your money. Why more? Is it a penalty for needing cash? Curious. Why?

Out-of-network fees average $3. Small. But adds up. Latte money. Ignored.