Your Money: Aug. 17, 1998

THE HIGH PRICE OF ATMs

If you're sick of fees at ATMs, you're not alone. Since most customers have to pay their banks $1 when they use a "foreign" machine, Senator Al D'Amato wants to outlaw surcharges, the $1.50 that cardholders increasingly also have to pay to the ATM operator. Last week the Justice Department began investigating whether the two largest ATM networks, Cirrus and Plus, are preventing small banks from abolishing surcharges. (Owners MasterCard and Visa, respectively, say they are cooperating.) For now, look for small banks that are cutting ATM fees for their customers.

A NEW FORM OF CURRENCY

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!