Posting ATM Disclosures

Section 205.16 of Regulation E requires financial institutions that charge non-customer a fee for completion of EFT transfers or balance inquiries at their machines to have two separate notices.

1. The first is a notice on or at the machine that the institution will (or may, if not all non-cardholder transactions will be charged) impose a fee for non-cardholder EFT transactions (and balance inquiries, if applicable). That notice is the one that lots of banks seem to have forgotten about, and for the lack of which many banks have been hit with threats of class-action suits. Note that the notice can be at or on the machine. If the bank can document that it was posted, the bank has no civil liability if it is removed or damaged [read: vandalized] by a third party. This notice does not have to include the dollar amount of the fee.
2. The second notice is one that most banks get right. It's the "last chance" screen that notifies the cardholder that there will be a $X.XX fee for completion of the requested transaction, unless the transaction is canceled. This notice, of course, must include the amount of the fee.