[tharne]

That's a pretty biased sample. Most people with financial literacy aren't withdrawing cash at a 7/11. They're doing it at their own bank branch to avoid paying any fees.

The reasoning here is circular. At the ATM in 7/11 that would only be used by people who aren't financially literate enough to absorb excessive fees, we find evidence of poor finances and poor financial literacy.

[dwaltrip]

Charles Schwab is one of many banks that pays for all ATM fees.

Additionally, a financially literate person may value the time it would take find another ATM more than a $2 ATM fee.

[sodafountan]

Uhm, what?

Or maybe they're just doing it out of convenience? Have you never payed a fee for convenience?

Have you tipped in a restaurant? Have you taken the highway instead of the back roads and payed a toll? Have you ever had food delivered to you?

Congrats you're doing the same thing people who pull money out of an ATM are doing you financially illiterate rube.

[dwaltrip]

FYI, I liked the points you made. However, personal insults ruin discussion and lower the quality of the forum, so I downvoted this comment.

I can certainly relate to getting fired up at foolish comments on the internet! It's tough sometimes... heh. Cheers, I hope you have a good day.