US PIRG says they’ve obtained legitimate documentation that says Bank of America will be raising their ATM surcharges for non-customers to $3 at most locations. The change will take place on July 31st.
From US PIRG:
Surcharges are the double-dipping fees imposed on non-customers and will be raised at BofA ATMs attached to their branches and in in-store locations (but not those in malls or airports). In Illinois (but not Chicago, where fees will not increase), New York, Nevada, New Mexico, and Massachusetts, they’ll wait a month until August 31st. Chicago must be a new or important market for them, I guess.
Yes, Chicago is both a new and important market for BoA as they take over LaSalle Bank and become Chicago’s largest bank.
US PIRG has some quotes from the paperwork they obtained:
In their talking points to “market presidents,” BofA flacks advise:
Bank of America may be an industry leader in raising the fee to $3 and most likely will draw attention from the press, state legislators, consumer advocates and Congress given the size of our network.
And in a set of FAQs, check out this corporate double-speak answer:
Does it cost any more for you to process transactions for non-customers? The bank continues to make significant investments in its ATM network and we continue to grow the network for the convenience of our customers.
If you’re not a customer of Bank of America, feel free to avoid using their ATMs.