Bank of America Corp. is raising its ATM surcharge in the Chicago market to $3 from $2 per transaction, bringing the city's surcharge to the same rate the bank charges nationally, according to a BofA spokesperson. The fee increase will go into effect June 23, and BofA today began alerting customers in Illinois, Michigan and Indiana about the change that affects noncustomers of the bank. The fee also will be disclosed on decals the bank is posting on its Chicago-area ATMs, says the spokesperson. BofA raised its national ATM surcharge to $3 from $2 the first week of August (CardLine, 8/2/07). At the time, BofA was working to acquire Chicago-based LaSalle Bank; it completed the transaction in October. Noncustomers complete less 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 with Charlotte, N.C.-based BofA.
Authoritative analysis and perspective for every segment of the payments industry
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