HARRISBURG, Pa. -- The move by Bank of America and Wells Fargo last summer to raise ATM foreign fees to $3 is being joined by JPMorgan/Chase Bank, it was disclosed Monday, as the increases continue to come under scrutiny from credit unions and financial interest groups.

Over the weekend, the president/CEO of the Pennsylvania Credit Union Association, James McCormack, reminded Harrisburg residents in a letter to the editor, following a news article on the topic, that Pennsylvania CUs, which are members of a statewide alliance, offer surcharge-free ATMs

"Currently, there are 407 credit unions with more than 1,100 machines located throughout Pennsylvania and into 12 states," where users will not be charged, wrote McCormack responding to an article in the Harrisburg Patriot, entitled, "Do You Pay For Cash?" containing suggestions by an official of Bankrate.com that users turn to alternative financial institutions.

Meanwhile, a spokesman for JPMorgan/Chase in Chicago confirmed the megabank quietly raised the ATM fees to $3 effective Jan. 13. Chase Bank has more than 9,100 ATMs in 17 states, said the spokesman noting the CU was following industry trends in pursuing the ATM hike.

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.