You’ve Been Advised: ATM Fees Notice

By: WOWT Email
By: WOWT Email

It’s one of those things that Nebraska state senators do to follow federal law. On Monday, they overwhelmingly approved a change in how we are notified that a fee applies to a transaction at an ATM.

In effect, the notification will be less obvious.

Until now, financial institutions were required to display notices in two separate places. One was to be posted in a prominent and conspicuous location on or at the ATM itself. The other notification was to be either on the screen of the ATM or on a paper notice issued from the machine after the transaction was initiated but before the consumer was committed to the transaction.

Congress recently adopted a law that eliminated the requirement that ATM fee notices be affixed to or displayed on an ATM.

So, to conform with federal law, on Monday Nebraska lawmakers voted 47-0 to approve LB100 which also eliminates the posted requirement on ATM’s in Nebraska.

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