ATM Surcharge
Definition
- Fee charged for a non-account holder to use bank-owned ATM. Example: You have an account at Bank A but use Bank B's ATM. Bank B will charge you a surcharge. Make sure to review what your bank charges you to use another bank's ATM system. You may have to pay a surcharge to Bank B plus a non-bank owned ATM charge to Bank A. See also "Automated Teller Machine."
Synonyms
processing cost, service fee
Alternate Spellings
ATM, ABM, Automated Banking Machine
Related Terms and Acronyms
- ATM Access Fee — Definition,
- Fee charged in addition to the individual account fees for an account holder to gain access to the ATM system. Can be monthly, weekly, or annual fee. See also "Automated Teller Machine."
- ATM Alliance — Definition,
- An alliance between banks and/or credit unions that is designed to avoid or minimize surcharges for non-bank customers at ATM machines. Customers from one bank that belongs to the alliance can use surcharge-free ATMs at all alliance banks.
- Automated Teller Machine (ATM) — Acronym, Canada,
- A terminal activated by a magnetically encoded card that allows customers of a bank or other financial institution to conduct everyday banking tasks such as deposits, withdrawals and transfers between accounts. An interconnection of these terminals allows customers to conduct certain transactions around the nation and the world; usually subject to a surcharge fee.
➥ See also Automated Banking Machine (ABM). - Foreign Currency Surcharge — Definition,
- A fee charged by a credit card company for purchases made in a foreign currency.
