HAEROON

Withdrawing cash from an ATM in America is a story that doesn't make sense. In Nigeria: - You need 1,000 Naira. - You find an ATM. - You insert your card. - You enter your PIN. - You request 1,000 Naira. - You take your money and go. Done. 🇺🇸 In America:

🇺🇸 In America: - You need $20. - You find an ATM at a gas station… not affiliated with your bank. - You spot one at the supermarket… nope, not yours either. - One at a store… still not your bank. - One at the airport… same story. You start to suspect your bank is some secret organization, and no one knows where its branches are. - Finally, you find another ATM. - And of course, it's not affiliated with your bank. - You insert the card because you're exhausted from all the searching. - You request $20. A message pops up: "Transaction fee: $3.50." You agree, because you've been hunting for an ATM for 15 minutes now, and the gas you've burned up might cost more than the fee. - You withdraw the twenty. - You walk away, happy that it's over. - You open your banking app. And here's the surprise: - The ATM charged you a fee. - And your bank might charge you another fee for using an "out-of-network" ATM. The first one charges you because the ATM has it. The second one charges you because the ATM doesn't have it. And the money was yours to begin with. The average out-of-network withdrawal fee, between the two parties, comes to about $5. Meaning, you needed to withdraw $20, and you paid nearly $5 just to get to it. You didn't take out a loan. You didn't request credit. You didn't buy anything. All you wanted was for your money to end up in your hand. In Nigeria, you withdraw your money. In America, you walk away feeling like the ATM withdrew from you.