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Automated Teller Machines: Survey Results Indicate Banks' Surcharge Fees Have Increased

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Report Type Reports and Testimonies
Report Date April 24, 1998
Report No. GGD-98-101
Subject
Summary:

In May 1997, GAO issued a report (GAO/GGD-97-90) on the deployment and surcharge fees of automated teller machines (ATM). This new report updates that work by surveying 500 randomly selected banks throughout the country. GAO found that banks operated about 13 percent more ATM machines in February 1997 than they did a year earlier and that the percentage of banks charging fees to use their ATMs increased from 39 to 64 during that same period. The average surcharge among all banks rose from $0.69 in February 1997 to $1.00 a year later; for ATMs with surcharges, the typical fee rose from $1.00 to $1.50.

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