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#1489292 - 01/04/11 08:02 PM ATM Transaction Fees and Reg E Overdraft Rules
AlohaState Offline
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Joined: Feb 2009
Posts: 16
Hawaii
Has anyone interpreted the new Reg E Overdraft Rules to cover ATM Transaction fees (fee charged when customer uses another bank's ATM for withdrawals, balance inquiries, transfers, etc)and the prohibition of assessing a negative balance overdraft fee if the ATM Transaction fee caused the overdraft on an opt-out account?

We have a difference of interpretation with our vendor. They feel that this fee is permissible per Reg E.

Thank you for your input.

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#1489334 - 01/04/11 08:26 PM Re: ATM Transaction Fees and Reg E Overdraft Rules AlohaState
Slugbug Offline
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Joined: Mar 2006
Posts: 195
I think they would have specified those if they were included. I don't think these would considered 1 time POS, but I didn't go out and look it up. We have not made that an issue and won't until we are told to.

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#1489383 - 01/04/11 08:52 PM Re: ATM Transaction Fees and Reg E Overdraft Rules Slugbug
AlohaState Offline
New Poster
Joined: Feb 2009
Posts: 16
Hawaii
Thanks for the quick response. I forgot to mention that ABA interpreted that the ATM transaction fees are covered under Reg. E since the reg says "any ATM transaction fee or charge" and stated that in their FAQs as well.

I just want to get a feel for what other banks are doing.

Thanks again.

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