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BUSINESS Friday 23 august 2019
A25

How to bypass ATM fees while you’re on the road

By MARGARETTE BURNETTE machine might be inside a
NerdWallet gas station, even if no bank
Associated Press branch is nearby. Check
If you find yourself short on your institution’s website or
cash while on vacation, it mobile app to locate near-
might seem easiest to hit by in-network ATMs.
up the nearest ATM. But if 4. IF ALL ELSE FAILS, DECIDE
that handy machine is not WHETHER CASH IS REALLY
in your bank’s network, NECESSARY. You may not
you could get a double need to use cash much at
whammy of fees: The ATM all while on vacation. If you
owner will probably charge want a snack from a hotel
a few dollars for the conve- vending machine or to pay
nience, and your own bank for a parking spot, for ex-
may tack on an extra $2.50 ample, you may be able to
or so. use a credit or debit card
You can avoid paying ATM for those transactions.
surcharges, however, with If you want to split a restau-
some prep work. Here are rant check with a friend or
ways to get cash without family member, consider
the expense on your next putting the total on your or
trip. your companion’s plastic
1. CHOOSE A BANK AC- and using Venmo or a simi-
COUNT THAT OFFERS ATM In this April 18, 2018, file photo, an ATM machine is in use at a New York convenience store. lar peer-to-peer payment
FEE REIMBURSEMENTS. Some Associated Press app to even up. It’s a way
banks will credit customers’ you may still incur foreign ATM’s — you may be able finding surcharge-free ma- to pay your share without
accounts for any fees that transaction fees. to withdraw up to $500 chines at your destination. having to dig up dollar bills.
are charged by ATM ma- 2. SCOPE OUT RETAILERS from a cash machine, but You don’t need an ac- Going cashless also allows
chine owners. Depending THAT OFFER FREE CASH as little as $40 from a retail- count at a megabank with you to keep track of your
on the bank and account, BACK. If you use a debit er — and some merchants a branch on every corner spending online, which can
refunds may be unlimited, card for purchases while on charge a fee of a dollar or to take advantage of a be useful motivation: When
or they could be capped your trip, look for merchants so for the convenience. large ATM network. Many you can log in to your bank
at around $10 per state- such as supermarkets or Before you tap the “cash small credit unions and on- account and see a list of
ment cycle. drugstores that offer free back” button in the check- line banks are part of co- all recent transactions, it
Even capped reimburse- cash back with purchases. out line, ask if there’s a fee. operative networks, such can encourage you to be
ments would cover a few This is an easy way to skip 3. JOIN A LARGE ATM NET- as Allpoint and Co-op, that thoughtful about new pur-
trips to the cash machine the ATM, though it does WORK. For customers who provide access to 30,000 or chases.
while on vacation, so if you mean you’ll have to make travel within the United more member ATMs within Don’t give in to pricey ATMs
think you’ll be hit with mul- a purchase. But if you were States, a bank or credit the United States. while on vacation for the
tiple ATM charges, consid- planning on that anyway, it union account that has In addition, some banks sake of convenience. With
er opening an account at means no extra costs. access to thousands of have relationships with a little planning, you can
a bank that refunds fees. Two things to consider: It’s domestic ATMs is another convenience stores or keep all your money your-
Note that if you’re traveling likely the merchant’s cash good option, since you other retailers that have self instead of giving a cut
overseas and need funds, back limit is lower than an have a good chance of ATMs on site. So a cash to an ATM owner.q

Corporate profits slump again in 2Q

By DAMIAN J. TROISE last year after the tax rate “Odds that the dispute
Associated Press was slashed to 21% from drags into 2020 have in-
Corporate profits fell for a 35% by the Tax Cuts and creased, introducing more
second straight quarter in Jobs Act. Most of that wind- risk to economic growth
the spring as the effect of fall was handed over to and corporate profits,”
last year’s tax cut wore off the minority of Americans wrote John Lynch, chief in-
and companies contend- that own the vast major- vestment strategist at LPL
ed with uncertainty from ity of shares, as companies Financial, in a note to in- In this July 5, 2019, file photo a trader works at the New York
the Trump administration’s largely spent it on dividends vestors. Stock Exchange in New York.
trade wars. or buying back their own Companies have been Associated Press
As the second quarter stock, rather than investing more vocal about the im-
earnings season winds in equipment or research. pact of tariffs in their recent
down, companies in the Profits are falling back round of earnings reports.
S&P 500 index are on track to earth this year, how- There’s been a more than
to notch the first back-to- ever. The reversal comes 40% increase in compa-
back quarters of slump- amid the U.S.’s escalating nies mentioning tariffs dur-
ing profits in three years. trade war with China that ing calls with investors and
While the results weren’t as threatens a global econo- industrial companies have
bad as Wall Street initially my already facing slower been particularly strident,
projected, analysts are al- growth. More companies according to FactSet. The
ready forecasting another are dealing with the im- trade war has hurt heavy
drop in profits in the current pact of tariffs and fears equipment makers like
quarter. that further tariffs will crimp Caterpillar, which reported
Corporate profits soared sales and raise costs. a 10% drop in profits.q