Word: bankses
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Dates: during 1990-1999
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Consumers have come to believe that automated teller machines should distribute cash. Banks believe that ATMs should collect some too--say, a $1.50 bite out of each cash withdrawal at a bank where you're not a customer. And that's just the first bite, because often when you make...
Consider the turmoil at ATMs in San Francisco and Santa Monica, Calif., which became the first U.S. cities to ban bank ATM surcharges. Megabanks Wells Fargo and Bank of America fired back by closing their ATMs to nondepositors in Santa Monica and threatening to do the same in San Francisco...
THE ATM WAR Legislators in several cities, angered by rising ATM fees, have simply outlawed them. But last week the banks struck back. Wells Fargo and Bank of America began barring noncustomers from using their ATMs in Santa Monica, Calif., after the city council banned surcharges. San Francisco residents may...
There are several inevitabilities of modern life: death, taxes - and, for the moment, ATM fees. Monday, a federal judge in San Francisco issued a preliminary injunction against a ban on ATM banking fees that city residents approved earlier this month. The measure would block "double dip" charges, fees levied on...
As any bank representative will tell you, financial institutions have to cover the expense of setting up all these ATMs, and if consumers find the fees so unpalatable, they should probably just find a machine operated by their own bank. Many people agree. "I think it's amazing that anyone...