Mar 17 2011
39 notes

Chase “Testing Out” $5 ATM Fees

Residents of Illinois could face $5 fees for using a Chase ATM, and those in Texas could see an increase up to $4.

That’s because JP Morgan Chase is reportedly “testing” new $5 ATM fees for those withdrawing from a Chase ATM without a Chase account. That’s in addition to whatever your bank already charges you for using another bank’s ATM.

Chase’s decision is supposedly in response to financial regulation that has limited their ability to impose fees. While the need to generate revenue may be apparent to Chase, they could end up frustrating users and losing any brand loyalty.