| Date: | 07/03/1998 |
|---|---|
| Organization: | Division of Banks |
| Docket Number: | 98-153 |
This opinion was issued during the third quarter of 1998.
- This page, Summary of Selected Opinion 98-153, is offered by
- Division of Banks
Opinion
Opinion Summary of Selected Opinion 98-153
Table of Contents
Ability Of Non-Bank ATM Providers To Notify Customers Of Fee Arrangement With Massachusetts-Chartered Bank
A non-bank ATM provider recently entered into an agreement with a Massachusetts-chartered bank for its cash needs; as a result, all of the bank's customers may use this provider's ATMs without incurring the transaction fee normally charged by the provider. The non-bank ATM provider requested permission from the Division to add language informing the customers using their ATMs that the particular state-chartered bank's customers would not be assessed the regular transaction fee and also requested permission to add language thanking the ATM customers for "banking with" the state-chartered bank. The Division has no objection to the language informing the customers of the fee waiver, but is of the position that a non-bank provider cannot include the language thanking the customers for banking with the state-chartered bank, as this would mislead customers as to which entity is conducting the business of that ATM, under Mass. Gen. Laws c. 167B.