ATM Surcharges under Fire: D'Amato Declares War, Vows to End Banking Trend
Marriott, Anne, The Washington Times (Washington, DC)
Sen. Alfonse M. D'Amato yesterday called for the swift death of ATM surcharges after a government report showed that bank fees more than tripled in the 14 months ending in February.
While only one-third of banks with automated teller machines charge a fee to non-account holders, the number of bank-owned ATMs with surcharges jumped 318 percent to 64,400 from 15,400 in late 1995, according to a report by the General Accounting Office.
The cost of convenience is on the rise, too. The average surcharge for ATMs operated by banks, including those with no surcharge fees, more than tripled to 62 cents from 17 cents in February, the GAO said.
Local banks didn't …
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Publication information:
Article title: ATM Surcharges under Fire: D'Amato Declares War, Vows to End Banking Trend.
Contributors: Marriott, Anne - Author.
Newspaper title: The Washington Times (Washington, DC).
Publication date: June 12, 1997.
Page number: 9.
© 2009 The Washington Times LLC.
COPYRIGHT 1997 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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