The Ultimate Avoiding ATM Fees Quiz

By: Staff

4 Min Quiz

Image: refer to hsw

About This Quiz

Thankfully, you are not at the total mercy of your bank and ATM machine. These days there are a number of options open to you that enable you to avoid nasty ATM fees. Do you know what they are? Take this quiz on avoiding ATM fees to see if you're an ATM maven.

When were ATMs first introduced?

ATMs made their debut in the 1960s.


What makes ATMs so convenient?

Aside from the fact that you can get cash when you want it, you also don't need to wait in line or find your own bank when you use ATMs.


In 2009, what was the average fee for an ATM transaction at your local branch in the U.S.?

The fee or surcharge for a single transaction at your local branch was $2.22.


What is a "foreign" ATM surcharge?

The "foreign" ATM surcharge is an additional fee charged to you for performing an ATM transaction not through your own bank.


Do all banks charge ATM fees?

No, rest assured, not all banks charge ATM fees. That's why it's important that you shop around for a bank that doesn't charge.


If you're out of town and need the services of an ATM, but you don't have a branch of your bank in the area, what can you do?

You can phone your bank and ask about a reciprocal arrangement. You can even ask your bank to waive the foreign fees while you're far from home.


How much will USAA Bank refund for ATM use?

USAA Bank is prepared to refund up to $15 a month.


Under what circumstances might a bank change its fees?

A bank might change its fees if it is bought out by another bank.


Which of these are no-fee ATM networks?

Both Moneypass and AllPoint are no-fee ATM networks.


Why is it sometimes a good idea to carry cash on you?

Since every ATM transaction elicits a fee, it's a good idea to carry cash so as not to have to use the ATM too often.


Is the fee for an ATM transaction dependent on the amount you withdraw?

It's the same fee, no matter if you withdraw $20 or $200.


Why would you write out a check for more than the purchase price in some stores?

Some stores offer a kind service. They're willing to take checks for more than the purchase price and refund the difference to you in cash.


In what decade were private ATMs legalized?

Private ATMs were made legal in the 1990s.


Are private ATM fees higher or lower than bank ATM fees?

That's the downside -- private ATMs, such as at movie theaters, have higher fees than bank ATMs.


How popular are checks as a form of payment?

Using checks as a form of payment is not that common anymore. Usually people use them as a default when credit cards are not an option in a certain store.


Explore More Quizzes

About HowStuffWorks Play

How much do you know about dinosaurs? What is an octane rating? And how do you use a proper noun? Lucky for you, HowStuffWorks Play is here to help. Our award-winning website offers reliable, easy-to-understand explanations about how the world works. From fun quizzes that bring joy to your day, to compelling photography and fascinating lists, HowStuffWorks Play offers something for everyone. Sometimes we explain how stuff works, other times, we ask you, but we’re always exploring in the name of fun! Because learning is fun, so stick with us!