Alliance Offers ATMs Without Surcharge
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I would like to add an important point to “States Move to Fight ATM Surcharges” (June 12): Many financial institutions do not impose ATM surcharges, providing a convenient and less expensive option.
The No Surcharge ATM Alliance is a group of California-based financial institutions that have formed a network of 2,700 automated teller machines that are surcharge-free, and the number is growing. These ATMs can easily be identified by a red-and-white decal on the machine.
Consumers should be aware of this alliance, particularly those who frequent ATMs not affiliated with their bank. To pay upward of $4 for a $20 withdrawal is absurd and can amount to hundreds of dollars a year. Furthermore, maintenance costs alone do not justify ATM surcharges. The older fee structure more than covered annual expenses.
As for banks that remove surcharges on ATMs located near state Capitol buildings, their intention is clear.
DAVID W. PORGES
Vice President of Public Affairs
Coast Federal Bank
Los Angeles
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