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(MSN)   ATMs to offer 1 and 5 dollar withdrawal amounts, make you feel like a big spender choosing from the dollar menu at McDonald's   (now.msn.com) divider line 67
    More: Interesting, Greg McBride, mcdonalds, ATM fees, loan servicing  
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1135 clicks; posted to Business » on 18 Jan 2013 at 12:17 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-18 11:41:48 AM
They'll end up charging an additional $2.50+ as a 'convenience' fee.
 
2013-01-18 11:48:04 AM
That's great that they're doing this years after the need for it is basically gone thanks to debit cards.
 
2013-01-18 12:17:05 PM
It would be nice to get some smaller bills from the ATM.  There is a coffee shop down the road from me that only takes cash and gives you a dirty look when you use a twenty.
 
2013-01-18 12:18:06 PM
It's about time. I know only filling up ATMs with 20s is convenient and easy, but it's also a pretty artificial limitation. Honestly this is pretty much just free extra cash for them also. Those handful of people that take out such small amounts will likely get charged the same fee, and then taking out more money sooner anyway.

It's win-win... more convenient for patrons, more money for ATM owners.
 
2013-01-18 12:21:17 PM

EvilEgg: It would be nice to get some smaller bills from the ATM.  There is a coffee shop down the road from me that only takes cash and gives you a dirty look when you use a twenty.


That sounds like a wonderful business.
 
2013-01-18 12:24:17 PM

Antidamascus: EvilEgg: It would be nice to get some smaller bills from the ATM.  There is a coffee shop down the road from me that only takes cash and gives you a dirty look when you use a twenty.

That sounds like a wonderful business.


Strangely enough, yes, it is.  Great coffee, cute staff, generally pretty friendly.  The owner doesn't get enough change for them in the morning rush, should they are always short of ones and fives.
 
2013-01-18 12:24:23 PM
ATMs to offer 1 and 5 dollar withdrawal amounts...

i2.listal.com

You never go ass-to-mouth.
 
2013-01-18 12:29:30 PM
They used to give out $5 increments about 15 years ago or so.
 
2013-01-18 12:33:03 PM
Should be popular in neighborhoods with strip clubs

/give me $50.00 in ones
 
2013-01-18 12:34:34 PM
PNC has been doing that for at least the past few months (although the ATMs near me never have fives in them, just ones). Pretty convenient, especially when you have to get money for the parking kiosks.
 
2013-01-18 12:40:08 PM
www.purple-consultancy.com
 
2013-01-18 12:44:40 PM
ATM's in Britain have allowed £5 and £10 withdrawals for decades. The US is finally catching up. I always found it weird that they have limited you to only $20 bill in the US for so long.
 
2013-01-18 12:47:26 PM
Now I really can order just one rib.
 
2013-01-18 12:47:28 PM
The one at the courthouse where I did jury duty did. Because the "reward" for showing up was $17. In other words, they went to the expense of having the special machine to avoid a $3 per juror cost.
 
2013-01-18 12:47:31 PM

KellyKellyKelly: PNC has been doing that for at least the past few months (although the ATMs near me never have fives in them, just ones). Pretty convenient, especially when you have to get money for the parking kiosks.


this. i would love lower denominations of bills. for parking, as you've mentioned, but also for bus/street car fare. i hate having to go to an ATM, then going somewhere else to get change (or, heaven forbid, going in the bank).
 
2013-01-18 12:48:01 PM
The PNC bank inside my local supermarket's atm has done this for a couple years now, but I only knew about it because the guy at the bank used it to take $2 out to test the ATM card when we set up my son's account
 
2013-01-18 12:49:55 PM

limeyfellow: ATM's in Britain have allowed £5 and £10 withdrawals for decades. The US is finally catching up. I always found it weird that they have limited you to only $20 bill in the US for so long.


A lot of ATMs around here have allowed for $10 bills for a while, but never anything below that. It doesn't bother me much now, but back in my younger days when I would get down to $7 in my account it was maddening.

/just wanted a cheesburger at McDonalds
 
2013-01-18 12:53:41 PM
My credit union's ATM has allowed $5 withdrawals for years now.
 
2013-01-18 12:54:57 PM

JohnAnnArbor: The one at the courthouse where I did jury duty did. Because the "reward" for showing up was $17. In other words, they went to the expense of having the special machine to avoid a $3 per juror cost.


They paid you in cash? I just got a very official looking check (for $18).
 
2013-01-18 01:07:56 PM
My bank's ATMs dispense €10, €20, and €50 notes, and that's pretty well standard here.
 
2013-01-18 01:10:24 PM
The only places that should have ATMs that dispense $1 bills are strip clubs.
 
2013-01-18 01:12:52 PM
next they'll eliminate all coins up to the dollar and institute a flat tax - no change necessary
 
2013-01-18 01:13:38 PM

you have pee hands: JohnAnnArbor: The one at the courthouse where I did jury duty did. Because the "reward" for showing up was $17. In other words, they went to the expense of having the special machine to avoid a $3 per juror cost.

They paid you in cash? I just got a very official looking check (for $18).


Yep. They gave us a special red card to take to the machine. Not sure why they did it that way.
 
2013-01-18 01:14:43 PM

Sin_City_Superhero: ATMs to offer 1 and 5 dollar withdrawal amounts...

[i2.listal.com image 850x553]

You never go ass-to-mouth.


Sometimes I go ass-to-mouth.
 
2013-01-18 01:15:23 PM
Used to service ATMs and the like for a short period of time some years back.

I remember when my co-worker accidentally switched the $1 and $5 boxes in the parking ramp pay machine and they made him pay the loss. Fortunately it was only a couple of hours worth and not on an actual ATM where people could sit there and cash out.
 
2013-01-18 01:16:19 PM
Personally I'd like to see ATMS dispense $20s and $50s. I hate going to the ATM to get $300 and getting so much paper.
 
2013-01-18 01:34:49 PM

JohnAnnArbor: you have pee hands: JohnAnnArbor: The one at the courthouse where I did jury duty did. Because the "reward" for showing up was $17. In other words, they went to the expense of having the special machine to avoid a $3 per juror cost.

They paid you in cash? I just got a very official looking check (for $18).

Yep. They gave us a special red card to take to the machine. Not sure why they did it that way.


Because some judge or senior clerk's buddy is an ATM vendor.
 
2013-01-18 01:40:03 PM
I know of at least one scrapyard that provides payouts on received scrap metal using an ATM machine with a special card because they don't trust any one employee with a cash box.
 
2013-01-18 01:41:47 PM
When ATMs were first introduced, they had $5 and $10 bills. Then $5s and $20s, before going to all $20s. Fortunately for the banks, there are people stupid enough to pay a $3 service fee to withdraw a buck.
 
2013-01-18 01:47:09 PM

natazha: When ATMs were first introduced, they had $5 and $10 bills. Then $5s and $20s, before going to all $20s. Fortunately for the banks, there are people stupid enough to pay a $3 service fee to withdraw a buck.


As long as you use your own bank's ATMs, there's no charge.
 
RJB
2013-01-18 01:54:53 PM

Mr. Eugenides: Personally I'd like to see ATMS dispense $20s and $50s. I hate going to the ATM to get $300 and getting so much paper.


I thought I was the only one who felt this way. I prefer using cash and wish larger-denomination bills were easier to come by. I use a virtual bank, so I can't go to a branch to request them. I don't lose sleep over this, but I agree, the pile of $20s is a minor inconvenience.
 
2013-01-18 01:57:09 PM
It's weird how you are lawfully only allowed to carry as much cash as you plan to spend immediately. Why can't Obama let me take out more cash than I need? It's very wasteful to have to drive to the ATM every time I need a few bucks.
 
2013-01-18 01:57:34 PM

Mr. Eugenides: Personally I'd like to see ATMS dispense $20s and $50s. I hate going to the ATM to get $300 and getting so much paper.


An ATM in a convenience store gave me a C-note and ten $20s when I requested $300.  I was surprised.

I get cash back on a debit card purchase whenever possible, to avoid ATM fees.  I'll buy a banana and get $200 back.  I imagine that annoys the supermarket cashier.
 
2013-01-18 01:59:18 PM

limeyfellow: ATM's in Britain have allowed £5 and £10 withdrawals for decades. The US is finally catching up. I always found it weird that they have limited you to only $20 bill in the US for so long.


Twenties only is typical but far from universal. I've never seen one that gives singles, but I have seen ones that give out fives.
 
2013-01-18 02:03:05 PM
Gee, if I want to buy a $1 cup of coffee I'll be able to take out a dollar and be charged $2.50, $3.50 for using the wrong bank machine and be able to pretend I'm buying a short Americano with double cream double sugar at Starbucks!

It's like I'm a millionaire or something.

Did I mention that in many places such as Japan and Europe you can point your cellphone at a vending machine and pay by instant debit to your account or cellphone bill?

By the time this "innovation" gets here, I'll have one of those time thingies tattooed on my arm like in that movie where time was literally money and everybody has their net worth tattooed on their arm where any bad guy with a debit device or an arm of his own can steal it at gunpoint for some reason never explained.
 
2013-01-18 02:04:28 PM
Makin it rain is going to incur sizeable fees
 
2013-01-18 02:16:54 PM

Mr. Eugenides: Personally I'd like to see ATMS dispense $20s and $50s. I hate going to the ATM to get $300 and getting so much paper.


Boeing Employee Credit union has some nice ATMs that will ask you if you want larger bills if you put in withdrawal amounts over a certain size. I was pulling out some money from my savings account there and it gave me the option to take out $100 bills. They also do the check scanning thing as well.
 
2013-01-18 02:16:59 PM

Antidamascus: EvilEgg: It would be nice to get some smaller bills from the ATM.  There is a coffee shop down the road from me that only takes cash and gives you a dirty look when you use a twenty.

That sounds like a wonderful business.


I rarely carry cash, and haven't for a long time. Interac Direct Payment has been in Canada for almost 20 years. If a business is not going to acknowledge that it's 2013, I'm not going to give them my (electronic) money.

/Once put 79 cents on my debit card.
 
2013-01-18 02:21:51 PM

brantgoose: Did I mention that in many places such as Japan and&nbspCameron1;Europe you can point your cellphone at a vending machine and pay by instant debit to your account or cellphone bill?


The cafeteria where I work recently implemented this:

LevelUp
 
2013-01-18 03:08:28 PM
ferretman

They'll end up charging an additional $2.50+ as a 'convenience' fee.

THIS so damn much, and your bank generally gets a buck or two on top of that.

I hardly carry cash anymore, I can't wait till debit card transaction fees are a couple of bucks and passed to the consumer because of "lost" revenue.
 
2013-01-18 03:09:30 PM
csb:
10 years ago or more, the ATM by the front gate of Sea World Orlando dispensed $1 and $5 bills. I pulled out $121 because I could.
/csb
 
2013-01-18 03:10:06 PM

ferretman: They'll end up charging an additional $2.50+ as a 'convenience' fee.


What are these convenience charges you speak of ?
Is that like paying them to get your own money or something ?
Hummm, my credit union never charged me one.
 
2013-01-18 03:25:02 PM
Back when I was in college, there was an ATM in the student union building that gave out 5s. I don't remember if I ever needed anything that wasn't a multiple of 20, though. Most of what I ever spent in cash was at the grocery store, and they always had change.

EvilEgg: It would be nice to get some smaller bills from the ATM. There is a coffee shop down the road from me that only takes cash and gives you a dirty look when you use a twenty.


I know the feeling. Over a decade ago, I worked at a coffee shop. On weekends, we'd get tons of guys paying in 20s, despite the fact that we did take credit cards. There was one Saturday we ran out of $1 bills (except for a few in the registers), and it was after the bank had closed, so I had to go drive to another store to get change.
 
2013-01-18 03:43:10 PM
One of the many things I loved about England was the ability to get £5 and £10 notes from atms.
 
2013-01-18 03:44:43 PM

Antidamascus: EvilEgg: It would be nice to get some smaller bills from the ATM.  There is a coffee shop down the road from me that only takes cash and gives you a dirty look when you use a twenty.

That sounds like a wonderful business.


When I worked at a gas station on the graveyard shift, I gave people dirty looks for giving me large bills. In my case, though, large bills were 50s and 100s. Those assholes would wipe out my drawer. I started making them wait until I could get enough 10s out of the safe (which had a time delay) after explaining nicely didn't work.
 
2013-01-18 03:46:32 PM
o.aolcdn.com
Can't wait till these become popular...
 
2013-01-18 04:02:28 PM

BarkingUnicorn: I'll buy a banana and get $200 back.


That's all you need for a good time.
 
2013-01-18 04:10:22 PM
I remember when I lived in Rochester, NY there was an ATM in a bank outside of the Marketplace Mall where you could request any amount of cash- even change. One day I went there and withdrew $18.46 just because I could.
 
2013-01-18 05:09:11 PM
Here in Canada, Royal Bank has had $5 and $50 bills for years. I think the minimum withdrawal was still $20 though.
 
2013-01-18 05:13:37 PM

Lars The Canadian Viking: Here in Canada, Royal Bank has had $5 and $50 bills for years. I think the minimum withdrawal was still $20 though.


The worst are the machines that only give 50's.
 
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