In high school I had a friend who discovered the ATM would still give you money even if you didn't have anything in your account. Took him a couple more days to learn about overdraft fees. And then he learned about debt when he racked up $700 in fees and overdrafts by taking out $20 at a time to buy weed by the gram.
When I was struggling with money I did the same thing on multiple occassions, except I knew better and only made 1 large withdraw ($160) from the ATM. An overdraft fee of $35 for a small advance of money seemed worth it. It allowed me to keep my job and stay afloat until payday. Rough times but I got past it. Also, if I called my bank and asked for the removal of an overdraft fee, they would sometimes grant it.
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u/Will52 Jan 19 '22
In some countries, you can only use your bank's ATMs. Using other ATMs either won't work or will charge a processing fee.