atm surcharges jump

Bank of America to charge non-customers $3 to use machines.

Can you put a price on offering convenience for your customers? The Bank of America has and it’s $3. That what the nation’s largest banking chain is now charging non-customers for as a surcharge for using one of its ATMs.

The $1 hike in the fee, which went into effect July 31 for most of the country and will start Aug. 31 in New York, Nevada, New Mexico, Illinois and Massachusetts, will affect non-customers who use the 10,700 ATMs located at BofA branches. BofA has 17,000 nationwide ATMs. The fee does not apply to BofA customers or at off-site BofA ATM locations such as convenience stores. Non-customers will continue to pay a $2 surcharge at those locations.

That $2 fee and that surcharge hike in general are in direct opposition of the strategy employed by chains like Wawa and QuickChek, both of which offer no-fee ATMs and have experienced significant sales gains as a result of the marketing strategy.


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