Is there any limit on how much a bank can charge for automatic teller machine (ATM) transactions?
No. There is no state law prohibiting or limiting ATM charges. The decision to charge a fee, and the amount of the fee, are matters of individual bank policy. If a fee is charged, your bank must fully detail the charges when the card is received. The Federal Reserve amended Regulation E (Electronic Fund Transfers Act) to implement provisions of the Gramm-Leach Bliley Act (GLBA) requiring disclosure of ATM fees. Under the GLBA amendments, an ATM operator that imposes a fee on a consumer for an electronic fund transfer (EFT) service is required to provide notice of that fact in a prominent and conspicuous location on or at the ATM where the EFT is initiated. The ATM operator must also disclose that a fee will be imposed together with the amount of the fee, either on the screen of the ATM or on a paper notice, before the consumer is committed to completing the transaction. No fee may be imposed unless proper notice is provided and the consumer elects to complete the transaction.
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- Is there any limit on how much a bank can charge for automatic teller machine (ATM) transactions?
- What are my rights regarding unauthorized automatic teller machine (ATM) transactions?
