Washington Mutual enters Chicago market and does away with ATM surcharges
from "ATM fee factor", by Alison Neumer, The Chicago Tribune Redeye
Washington Mutual entered the Chicago market in the summer of '03 by promoting a no-fee ATM policy. This sets the bank apart from the city's other banks that charge non-customers for withdrawing cash from their ATMs. Banks say the surcharges are necessary to cover administrative costs and are a fair price for convenience. But critics argue that the fees are excessive. Mike Moebs was asked to comment and said that as a result of Washington Mutual's progressive campaign, other Chicago banks may be forced to lower prices eventually. "The bottom line is the consumers are going to win."
Written By: vhorizon
Date Posted: 10/24/2005
Number of Views: 4356