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Avoiding ATM Convenience Fees


ATM surchargesLorMet offers its members the convenience of using ATMs that are free of surcharges and transaction fees. In our area, you can find these no-fee ATMs at all LorMet branches, inside of Elyria Memorial Hospital, and inside the Lorain County Administration Building. Outside of our area, LorMet members can use surcharge-free Allpoint ATMs* because LorMet has joined Allpoint™, the nation's largest surcharge-free ATM network.

According to a Washington Post article, there is often a high cost to convenience. You may not be aware of convenience fees, but when you pay someone else to take extra steps that you prefer not to take, there are often hidden costs.

As you probably already know, the article points out that you can save money by making your own lunch:  "...do the math: A $7 sandwich every work day adds up to about $1,700 a year. Is it more delicious than a summer vacation?" However, there are even more ways in which you could save money by putting forth a little more effort instead of paying others to do the work for you.

For example, when you buy pre-cut fruit instead of whole fruit, you will often pay more for the convenience of having the fruit cut for you in advance.  Sue Perry, the deputy editor for ShopSmart Magazine told the Post, “If you can peel, make or shred it in five minutes, it’s not worth a premium price.

And if you regularly take clothes to the dry cleanser for small stains, the Post recommends that you get a stain removing stick to take care of these things. You can spend money at the dry cleaners for garments made of delicate fabrics that you cannot clean on your own at home.

*Excludes Allpoint ATMs at 7-Eleven locations.


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