Bank fees can quickly add up and take a bite out of the earnings from your savings or interest-bearing checking account.
Fortunately, some of the country’s lowest earners will no longer be charged for withdrawing cash from an out-of-network ATM.
Nationwide, consumers with state-issued EBT cards won’t be charged a fee for using an ATM belonging to Wells Fargo, Chase or Bank of America — even if they’re not customers of those banks. ATM surcharges are already waived for EBT benefit recipients who use Citibank ATMs.
…“If we know that in California it’s $20 million a year that was going out of the pockets of the poor to line the pockets of the richest banks, what does that look like nationally?” asks Jessica Bartholow, a policy advocate with the Western Center on Law & Poverty.
