Just Kidding. But really– who keeps that much money in a savings account! And $2.75 for an ATM fee – hot damn! One of the commenters on the Gawker post said the owner probably made that $2.75 in interest while standing at the ATM machine. Another commenter did the math:
Smartpig.com offers 0.50% APR for balances over $50,000, so let’s use that rate.
At $100mil, he makes $500,000 a year in interest alone. And, thanks to Rent, I know there are 525,600 minutes in a year.
So he makes $0.95 a minute. So long as his ATM transaction took longer than 2:54, then yes.
He DOES make back that much in interest. 😦
It seems this receipt belongs to billionaire hedge fund manager, David Tepper. Good for you, David!