How to record reimbursed ATM fees?

 I was surprised that I could not find this topic in the help forums. So how do people handle ATM fees? When we get cash from an ATM, it always charges a fee, and our bank reimburses all fees on a monthly basis, so we don’t actually pay them. However, the bank transaction shows $33 for every $30 you take out, so how do you handle that in the transaction record, since you don’t actually have the $3 in cash...? 

Thanks! 

 

And before anyone asks, our bank does not have local ATMs, but I will never in a million years leave USAA as my bank - they are amazing and serve our military community faithfully. 😊

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  • Use a split transaction: $30 to whatever and $3 to a fees category. When you receive your reimbursement, it is an inflow directly to the fees category and not to Inflow: To Be Budgeted.

    Like 4
  • Hi ColoradoGirl !

    I second Jenmas on using a split transaction for those withdrawals. As long as your bank refunds those fees in the same month, categorizing the reimbursement to the fees category shouldn't cause any trouble. However, if they don't reimburse you until the following month, those fees will look like overspending in the current month and the reimbursement will give you a surplus in the following month.

    A section of our Help Docs is dedicated to handling reimbursements and goes over how to handle them if you receive the funds in a different month. Take a look and let me know if you still have questions! :)

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  • Thank you both.  I looked at my bank statements and it looks like the fee reimbursements always come in on the 6th of the following month, based on when my checking statement cycle ends. So then it’s going to look like we have overspending in every month where we go to an ATM, even though it is a reimbursed fee? That just feels wrong.... I have been working YNAB for 4 years with a $0 overspending goal in every month - we give very dollar a job, so this seems very weird to just be okay with overspending on a consistent basis. ☹️

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    • ColoradoGirl In line with what Budget OCD said, if you budget for those fees upfront (since they're essentially coming out of your available funds initially) then you can treat the reimbursement like earned income and budget it towards any of your categories. 

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  • Budget the ATM fee category this month as you would any other category. When you get the reimbursement next month you will have a buffer and hopefully won't have to budget the category in the future. 

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      • Budget OCD
      • Coral_Android
      • 3 yrs ago
      • 2
      • Reported - view

      So this month, if you had $3 in ATM fees (and that was your historical amount of fees) I would budget $6. $3 to cover this month and $3 to establish the buffer.

      Like 2
  • So, I set up a new fees category and budgeted $6, but then came across another issue. You can’t make a Transfer a split transaction. Because it’s a transfer from Joint Checking to my husband’s Cash, I can’t allocate the funds to different categories- you aren’t allowed to specify a category at all. So does that mean creating multiple transactions for each ATM withdrawal? And if so, what would be the right order...?

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    • ColoradoGirl Sorry for the confusion here! You can make a Transfer a split transaction, but you have to select Split Transaction first.

      Click on Add Transaction, then click the Category entry (skip the Payee initially) and select Split (Multiple Categories). In the additional lines that appear, change one of the Payees (not the top one) to "Transfer: [Name of Account]". The top payee should indicate where that money is being spent, such as "Chase ATM" or "PNC Bank ATM". 

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    • Faness Quick follow up on this - I can't seem to accomplish this on the mobile app. Do these splits and renaming Payee have to be done on desktop/web?

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      • WordTenor
      • Can we agree that goals are dumb and immature? Sure.
      • WordTenor
      • 3 yrs ago
      • 2
      • Reported - view

      ColoradoGirl "Split" is done when you select the category, but "Transfer" is done using the Payee in the split. 

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    • WordTenor Ah, went a level deeper in the split and found the Payee option in the split. So on the mobile version you have to: 

      1. Go to Category and Split the Transaction

      2. Categorize the first split to the ATM Fees category and correct amount 

      3. Go into a second split category,  select Category to get into sub-screen, select Payee , then find Transfer: XXX's cash

      4. Use the " <Splits" to get back out of the Split and enter/finalize the amounts of the split charges

      5.  Then click Done 

      6. Then click Save Transaction 

       

      Little longer process, but glad it's doable. :-)

      Like 2
      • WordTenor
      • Can we agree that goals are dumb and immature? Sure.
      • WordTenor
      • 3 yrs ago
      • 2
      • Reported - view

      ColoradoGirl If you do it once with a payee like “cash,” in the future, it will give you the same split structure for that payee. 

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    • WordTenor Will try that next time we take out cash. It comes through with the ATM name/location but I guess there’s no reason not to rename it- just hadn’t thought of that . Thanks!

      Like 2
  • That worked with splitting the Payee and doing a Transfer plus a budgeted item. Thanks!

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