Service Credit Union has unveiled a new ATM surcharge and Visa International Service Assessment fee-refund program, essentially making all cash withdrawals at the Portsmouth, N.H.-based credit union’s ATMs worldwide free.
To qualify, members must maintain a positive balance in their Service accounts in any amount and directly deposit their pay to the $1.9-billion credit union, which operates 22 branches in the U.S. and 16 in Germany for U.S. military personnel stationed overseas.
Service will rebate Visa fees on debit and credit cards combined up to $20 per month. Visa assesses a 1% assessment fee on the face value of any foreign transaction, including ATM withdrawals and purchases of goods and services worldwide.
“The ISA rebate is a way to help save money for our mobile members who make purchases in foreign countries,” Gordon Simmons, Service presiden, said in a pres release. “Our mobile members and their families face unique financial challenges, and this is one way of their credit union assisting them.”
Service will refund any ATM surcharge from other financial institutions up to a total of $20 a month. Service also increased the number of free withdrawals from non-Service ATMs to 20 per month from 10, saving members up to an additional $30 monthly.
Members do not need to provide any assessment or ATM receipts or paperwork; rebates are applied automatically, the credit union said. Refunds are applied to the member’s account the first business day of the following month.
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