STRATEGIC PARTNERS
May 14, 2002
BOSTON -- An editing error will cost BankNorth Massachusetts an estimated $25,000 in ATM fees that it must return to several thousand people who became customers when it took over MetroWest Bank earlier this year, according to a Boston Herald report.
In January, BankNorth sent MetroWest customers letters detailing account changes they would see after the Feb. 15 takeover, including fees for ATM usage.
"Unfortunately, one of the letters . . . included a footnote which incorrectly explained when a 'foreign' ATM fee at BankNorth would be charged," the bank told its customers in a letter last week.
The footnote said fees would not be imposed on customers using BankNorth machines or those connected to the SUM network, a selective surcharge alliance of ATMs that includes dozens of Massachusetts banks.
It should have said that BankNorth customers would be charged $1.25 for transactions at SUM program machines not owned by BankNorth, BankNorth Group spokesman Brian Arsenault told the Herald.
"It was a proofreading mistake," he said, adding that the bank will rebate foreign fees already paid by BankNorth customers using SUM machines and extend a "grace period" on the fees through June 10.
