Imagine a debit card that only allowed you to withdraw $25 per day, and you had to pay an ATM fee each time you made a withdrawal. Bankrate.com: Worst debit card ever? May 29, 2015.
The measure set the withdrawal limit at $25 per transaction. With an average withdrawal fee in U.S. of $4.35, according to bankrate.com, and with most ATMs not dispensing $5 bills, the fee amounts to about a 20 percent levy on the poor. ALJAZEERA: “New Kansas welfare spending law is ‘tax on the poor‘” April 16, 2015.
One thought on “EBT News You Can Use”
This is excellent. I had no idea that EBT benefits were subject to ATM fees until I read this post. In WA, sales tax is removed from EBT purchases. I guess I assumed the same would be true for ATM fees. I’m glad you’re working to end that, because you’re exactly right – those benefits should go to families, not banks!
If you’re looking for other EBT News You Can Use, you’re welcome to link to my article on unknown EBT benefits. We’re working on one for each state, but here’s the link to the California article (since that appears to be where you are focused): http://lowincomerelief.com/did-you-know-your-california-ebt-card-could-do-this-golden-state-advantage-admission/
Have a great day!