{"id":2209,"date":"2020-08-27T15:31:14","date_gmt":"2020-08-27T15:31:14","guid":{"rendered":"https:\/\/albanknews.com\/?p=2209"},"modified":"2020-08-27T15:31:14","modified_gmt":"2020-08-27T15:31:14","slug":"compliance-qa-atm-fee-notifications-for-non-customers","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=2209","title":{"rendered":"Compliance Q&A: ATM Fee Notifications for Non-customers"},"content":{"rendered":"

Q: <\/strong>Does our ATM have to notify a non-customer of the bank that our bank is going to charge a fee and what the fee amount is?<\/p>\n

A: <\/strong>Yes, this is an explicit requirement under Regulation E, as provided below:<\/p>\n

(b) General.\u00a0An automated teller machine operator that imposes a fee on a consumer for initiating an electronic fund transfer or a balance inquiry must provide a notice that a fee will be imposed for providing electronic fund transfer services or a balance inquiry that discloses the amount of the fee.<\/em><\/p>\n

(c) Notice requirement.\u00a0An automated teller machine operator must provide the notice required by paragraph (b) of this section either by showing it on the screen of the automated teller machine or by providing it on paper, before the consumer is committed to paying a fee.<\/em><\/p>\n

(d) Imposition of fee.\u00a0An automated teller machine operator may impose a fee on a consumer for initiating an electronic fund transfer or a balance inquiry only if:<\/em><\/p>\n

(1)\u00a0The consumer is provided the notice required under paragraph (c) of this section, and<\/em><\/p>\n

(2)\u00a0The consumer elects to continue the transaction or inquiry after receiving such notice.<\/em><\/p>\n

https:\/\/www.consumerfinance.gov\/policy-compliance\/rulemaking\/regulations\/1005\/16\/<\/a><\/p>\n

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Compliance rules and regulations change quickly! For timely compliance updates, subscribe to Compliance Alliance\u2019s email newsletters<\/strong><\/a>. Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call(888) 353-3933<\/strong> or email info@compliancealliance.com<\/strong><\/a> and ask for our Membership Team. Not a member? Learn more about membership with Compliance Alliance by attending one of our live demos:<\/strong><\/p>\n