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ATM fee, "Double Dipping"
Posted: 12.10.2009 at 6:53 PM
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The fee you pay to withdraw money from an ATM is going up.

A new study from bank-rate.com found that banks are charging non-customers an average of $2.22 for each ATM use.

But, that's not the only fee you pay.  According to Senator Charles Schumer's office, 72 percent of banks charge their own customers a fee when they use another bank's ATM.

Senator Schumer says the Federal Reserve promises to review the practice.

Senator Schumer said, "If they can't do it administratively, we'll do it through legislation. We've done it for credit card fees and that goes into effect in February. Now, I think we need to do it for ATM fees as well."

Senator Schumer also wrote the section of this year's major credit card reform law that reined in abusive gift card practices.

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