Bank of America Corp. is raising its ATM surcharge in the Chicago market to $3 from $2
per transaction, making the city's surcharge the same as the bank charges nationally, according to a BofA spokesperson.
The fee increase will go into effect June 23, and BofA Monday began informing customers in Illinois, Michigan and Indiana of the change that affects consumers who are
not customers of the bank.
The Charlotte, N.C.-based bank also is posting decals on its Chicago-area ATMs to
alert users, says the spokesperson. BofA raised its national ATM surcharge to $3 from
$2 the first week of August (ADN, 8/2/07).
At the time, BofA was working to acquire Chicago-based LaSalle Bank; it completed
the transaction in October.
Consumers who are not customers complete fewer than 10% of BofA's ATM transactions, according to the spokesperson. "Quite frankly,
we would prefer that these customers open an account with us and avoid this fee altogether," says the spokesperson.
The ATM surcharge offsets the bank's cost of building and maintaining a nationwide
ATM network of 18,491 machines, according to the bank's first-quarter financial reports.