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ATM fee notice

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Question: 
This fee notice is no longer required to be posted on the machine if there is a screen that pops up before the fee is assessed.
Answer: 

That is correct. The notice, as discussed under 1005.16 denotes it may be on-screen or on paper. At one time it had to be on the machine and banks had no control over customers peeling them off and exposing the bank to a liability. The stickers had to be checked every time the ATM was serviced or stocked.

Cases like the large class action settlements because of the $3 fee not being disclosed were an instigator toward getting that requirement changed. Still, some banks initially (at least) had difficulty getting the notices on screen.

First published on 06/20/2021

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