Bank of America Boosts ATM Fee to $3

Withdrawing cash from a Bank of America ATM now costs an extra $3 for non-Bank of America customers.

This summer, the bank rolled out a $1 ATM fee increase — to $3 — for non-bank customers that use any of its 10,300 branch location machines to withdraw cash. The increase has been implemented nationwide. The fee at more than 6,300 Bank of America ATM locations at public locations such as malls, stadiums, movie theaters and other locations will remain $2.

“We actually get more non-customer foot traffic at these non-branch locations,” Bank of America Spokeswoman Betty Reiss said. Bank of America (BAC) officials said the fee increase was in response to an upgrade the bank did to its more than 17,000-unit ATM network.

“Maintaining our ATMs is a major investment,” Riess said. “We’ve done it to benefit our customers with the newest technology we can provide.”

The move by the bank, which has the largest ATM network in the country, is expected to have ripple effects across the industry.