Are we required to have two signs on our ATM - one on the actual transactions screen and also one posted on the outside of the machine. I thought we could have either or but have been told Reg E requries both.

Review (c)

http://www.bankersonline.com/regs/205/205-16.html

I read the reg bu there is not "and" nor is there an "or" so does this mean you have to post follow a sign on the ATM and also something on the screen - that seems to be overkill. Plus what if you had an old machine on which you could not place a notice on the actual transactions screen?

One sign on or at the machine with fact that fee will (or may) be charged to non-customers (paragraph (c)(1)) AND provide a screen or paper notice that you will charge a fee of (state amount) if the cardholder proceeds. (paragraph (c)(2)).

By the way, the word "and" appears at the end of paragraph (1).

The first sign is to warn the cardholder that if you are totally fee averse, don't even try. The second notice is to tell the cardholder who wants to know how much what it will cost.

You don't need to include the fee amount on the posted sign, so you don't need to swap them out each time your fee changes. Just update the info on the screen under program or parameter control.

If you've got an old machine that can't accommodate a screen notice, the regulations gives you the option of generating a paper notice with the same info (at the time the screen notice should appear). If you can't do either, you need to stop surcharging at that machine or pay up and upgrade your equipment. You're driving a Model T on the Interstate.

Excellent information. I did reread the reg and as you stated saw that there is an "and" that I missed before. I assumed that there was addtional information regarding "surcharges" which I have located, so now understand that the reg muat apply to any charges. Thank you for clarifying that the actual fee just needs to be on the screen but the notice that there may be a fee must be on the outside of the machine.