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Other banking news of last week included the not-unexpected announcement that First National Bank of Chicago, more commonly known as First Chicago, will start charging a $1 fee to non-customers using its automated-teller machines.
St. Paul Federal Bank for Savings imposed a similar fee four months ago.
At First Chicago, non-customers account for about 25 percent of all daily transactions at the bank’s 710 ATMs, and a $1 fee would translate into $12.8 million in extra revenue for the bank, assuming people don’t change their habits.
The prognosis? This could just be another step along the way to charging consumers–account holders as well as non-customers–a fee for every service.
