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Comment by mandelken | Hacker News Reader

Depends on your background and experience, I guess. In many European countries ATMs are free, even outside your own country. It is considered an elementary part of the banking service that you don't have to pay to withdraw your own money.

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Many European countries also charge negative interest rates. In Switzerland, where I live, bank balances above CHF 100K gets a flat -0.75% interest rate.

Just saying.

Since 1993, the Swiss inflation rate has been well below 2% in every year except 2008, so you'd still come out ahead compared to the US--assuming you weren't spending all your money on ATM fees.

Supply and demand.

Money supply is up and demand to put it in safe places (like Swiss bank accounts) is very high. German bonds went negative for this reason as well.

Someone somewhere is paying for the fees. I imagine it’s the collective of all people paying for it rather than the people actually using the machines. A bit unfair.

This is not true. Most quickly accessible ATMs in e.g. Berlin charge a fee. I spent €€€ on ATM withdrawals yearly.

From my experience this is true for bank clients in Belgium, the Netherlands, France, Austria and Spain (but the latter only at your own bank).

When I withdraw money with my Belgian debit card in the Eurozone at any ATM (including Berlin), I do not pay any fee. And this is true for all major Belgian banks.

Of course, if your account is not in the Eurozone (US?) or denominated in EUR, or through a basic credit card (visa) then usually a fee would apply.

I use a Card by Sparkasse and what I meant by accessible ATMs is e.g. the ones from Euronet that cost me roughly 5€ per withdrawal.

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