News

Chase to impose surcharge

February 24, 2002

NEW YORK -- Beginning Jan. 9, Chase Manhattan Bank will charge non-customers a surcharge ranging from $1 to $1.50 to withdraw cash from Chase ATMs.

Chase will not levy these fees at 60 branch locations in areas where more than half of the residents are low-and moderate-income, nor will Chase charge non-customers who receive their public assistance payments electronically. Chase has 1,499 ATMs in New York and New Jersey.

Chase, one of the last large financial institutions to resist imposing a surcharge, said that noncustomers should help pay for the cost of maintaining its ATM network. More than 70% of U.S. banks impose a surcharge.