I won’t drag it out: Yes, online banks can have ATM networks.
What ATM networks do online banks use?
Online banks, such as SoFi, Ally Bank or Chime, don’t usually have their own ATM networks. So, how do they have ATMs? Through third-party ATM networks and partnerships.
For example, the online bank SoFi® has partnered with the Allpoint network, which means SoFi customers have fee-free access to over 55,000 Allpoint ATMs across the US.
Where to find online bank ATMs
Compared to traditional banks, finding an ATM that works with your online bank can be a little trickier.
Chase Bank has Chase-branded ATMs, and they’re very obviously branded as such, making them easy to spot. Chase customers can use these without worrying about fees.
So, without carefully branded signs and color-coded ATMs, how do you know which ATMs you can go to if you’re with an online bank that doesn’t have a proprietary network?
Easy — learn what ATMs your online bank has partnered with or use an ATM locator.
ATM networks that online banks often use
For the most part, you can expect an online bank to use one or more of these ATM networks:
- Allpoint ATM network (55,000+ locations)
- MoneyPass ATM network (40,000+ locations)
- Green Dot retail cash deposit service (95,000+ locations)
Here are the ATM networks that popular online banks use:
Online bank ATM locators
In your mobile app or on the bank’s site, you can simply enter your location, usually your ZIP code, to see which ATMs are near you.
ATM locator examples:
Bottom line
Online banks can have ATMs, usually through third-party networks like Allpoint or MoneyPass. With these partnerships, online banks like SoFi, Chime and Varo can give their customers fee-free ATM access without having to create their own ATM networks.
And if you want to avoid ATM fees entirely, look for banks with large fee-free ATM networks or for accounts that offer monthly out-of-network ATM rebates.
Frequently asked questions
What are out-of-network ATM fees?
Out-of-network ATM fees are fees charged by your bank when you use an ATM outside of their network. These fees tend to range from around $0.50 to $3, depending on the transaction.
These fees are charged for two reasons. The first is that your bank wants you to use their ATM network, and the other is that your bank has to send your account information to an ATM they don’t own.
What is an ATM operator fee?
An ATM operator fee is charged by the owner of an ATM when you use an ATM outside of your bank’s network. Since you’re not a customer of that specific bank or network, you’re charged an “operator” fee, which is basically a service fee for using the ATM.
Using your bank’s in-network ATMs doesn’t normally incur operator fees, because you’re already a customer. Your deposits, monthly fees and so on are what’s helping maintain these machines, so the banks don’t charge you extra to maintain their property (because you already are!).
Can I get ATM fees reimbursed?
Yes, select bank accounts offer ATM reimbursements, sometimes called ATM rebates. A few banks that offer ATM reimbursements include Alliant Credit Union, Axos and Charles Schwab. Just keep in mind that many banks offering these rebates rarely reimburse operator fees, so read the fine print.
