This is based on a personal experience and is a personal post. It is about both Bank of America and WaWa.
I love WaWa. I am a sucker for innovative businesses that just do things right. WaWa is one of these businesses.
WaWa stays competitive in large part by creating cheap pricing on everyday items. So stuff like cigarettes, coffee, use of the ATM, and gas are priced extremely competitively compared to the surrounding competition whom ever those poor souls may be.
I needed some cash the other day and their is a WaWa located conveniently to my home. I know they don't charge for their ATM use which is a deal that they have worked out with their bank or credit union.
So I checked my balance and then withdrew 20 dollars.
Then a few days later I check my bank statement. I was charged 4.00 dollars by my bank which is Bank of America.
They charged me 4.00 or 20% of what I took from my account.
Think about this WaWa paid for the location and electricity that was needed for this transaction. Their bank supplied the cash, and all of this was provided free of charge to me. Then Bank of America has the nerve to charge 4.00 dollars.
Man that really hurt my finance feelings.