March 18, 2013

Consumer Law

Automatic Teller Machines (ATMs) and the Law

What fees are reasonable?

A small fee for replacing lost cards is not desirable, but not necessarily unreasonable in itself.

Few banks will allow free ATM use even for their own customers beyond withdrawals and deposits. That means that each time you use the ATM for a balance update or, as is increasingly common, an interim statement of account activity, you are going to incur a fee of seventy-five cents, a dollar or more. Though the interim accounts can be of some use, activities such as checking your balance are available from many banks by a 24-hour computerized phone line or via the Internet—for free, from the privacy and warmth of your own home and usually toll-free if you're on the road.

>>How can you find out about ATM fees?
>>What fees are unreasonable?
>>What fees are reasonable?
>>Do you have a contract with your ATM issuer?
>>How can you safeguard yourself in making ATM deposits?
>>How can you make your ATM transactions secure?
>>How carefully should you guard your PIN?
>>Should you save the receipts of each transaction?
>>If you don’t save them, should you be careful of how you dispose transaction slips?
>>What happens when you leave your card in the ATM?

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