How to avoid ATM fees

Around here, we generally try to avoid paying with cash in order to maximize credit card rewards. But sometimes, there is no other option, and you find yourself running to the nearest ATM for cash. And if the ATM doesn't belong to your bank's network, you're likely stuck with an annoying ATM fee.

Tired of ATM fees eating away at your account balance? Here are five ways to avoid them.

Plan ahead

It may seem obvious, but the best way to avoid paying an ATM fee is to plan ahead for when you must pay with cash. This way, you have time to access your cash free of charge rather than be surprised at the last moment as you frantically look for an ATM nearby.

Think about your activities ahead of time. If you're attending an event that requires paid parking, will they only accept cash? Similarly, if you're headed to your local county fair, they will likely accept credit cards for some things, but you may need some cash to pay for games or snacks.

Additionally, it's always a good idea to carry some emergency cash. Keeping a few twenties in your wallet is a great way to ensure you never get caught without cash and have to pay an ATM fee.

Related: Tips to save on overseas ATM withdrawals this summer

Stay in network

If you know you need to get cash, visiting an ATM in your bank's network is likely your easiest option. Your bank won't charge you an out-of-network ATM fee if the ATM is in their network. While you're at it, get a little bit more cash than you think you'll need so you can have that emergency stash in your wallet.

For example, if you have a Chase debit card, you'll want to find a Chase ATM to avoid fees. Conversely, if you use your Chase debit card to withdraw cash from a Bank of America ATM, you'll be charged an out-of-network ATM fee.

Get cash back

If you request cash back when making a purchase at a store, you won't be subject to an out-of-network ATM fee. Just make a small purchase, like a pack of gum, and pay with your debit card.

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At the checkout, you can either tell the cashier or select the appropriate button on the self-checkout to request cash back. At that point, the process is like an ATM: Simply request your desired cash-back amount. Aside from your small purchase, you get the cash you need without fees.

Use mobile payments

What happens if you're out of emergency cash and realize a merchant doesn't accept credit cards? Before you run off to an ATM, ask them if they accept mobile payments. Sometimes, a merchant can scan a card in your mobile wallet even if they don't have a physical card reader.

If that's the case, having your mobile wallet set up can save you the cost of an ATM fee.

Get your ATM fees reimbursed

Some banks will reimburse ATM fees that you incur on your checking account. This is worth considering if you're shopping for a new bank. The feature can offer peace of mind when you need last-minute cash.

For example, the Schwab Bank High Yield Investor Checking account reimburses ATM fees on domestic purchases.

The account is also helpful when spending abroad. There are no foreign transaction fees, and you will be reimbursed for any international ATM fees you incur. Also, the account has no minimum balance requirements or monthly maintenance fees.

Bottom line

It's a good practice to avoid out-of-network ATM fees when you need cash. To ensure you're prepared for cash-only situations, plan ahead and obtain cash from an ATM in your bank's network or via cash back from a retail store.

Setting up your mobile wallet or opening a bank account that reimburses ATM fees are also good options. With these strategies in place, you should be able to avoid ever paying an out-of-network ATM fee.

Related: The top checking accounts for avoiding ATM fees