Having an ATM card is very convenient. You don't have to go to the bank just to stand in line to withdraw your money and you can withdraw anytime anywhere 24/7 as long as there is an operational ATM machine even during weekdays and holiday. Very useful in case of emergencies. Paying your bills? why stand in long lines again in banks or your local bayad center when you can pay using your ATM card. As long as you have sufficient funds, paying you bills has never been easier. It can even accommodate multiple bill payments since ATM machines now accepts your electric, phone, cable, cellphone, credit card bills and more.
But when withdrawing money from your ATM card be careful which ATM machine you withdraw from. The ATM machine located near your home might look convenient but you might just be surprised as to how much fees you are going to be charged just by withdrawing your money there. A lot of my friends are surprised when they inquired how much is their remaining balance only to find out that they have been charged anywhere from P7.50 to hundreds of pesos. You will be also charged just by inquiring your balance ranging from one peso to a dollar.
Banks have been more transparent of the fees their ATM machines charges in recent years but it definitely still needs improvements. Measures have been taken to make to make the list of charges more visible by placing them in plain sight near the ATM, but not all people pay attention to their surroundings. As much as possible, even if it is inconvenient, withdraw only from your banks ATM. Sometimes the fees maybe not be significant for you but if you withdraw frequently it does add up and you will be surprised as to how much the fees are eating up your money after a year.