It was coming soon, and Chase is most likely not the only issuer who will begin modifying ancillary or periodic fee structures in the quest to recoup non-interest income. Interesting to note is that the reported fee structure will vary state to state. This aligns with other pricing strategies that define different fees for different regions and underscores the critical importance that analytics is playing in these new structures.
“The bank is trialing the $5 charge in Illinois while users in Texas face a $4 cost. Chase has around 3600 ATMs in the two states. With many US banks also charging customers for using cash machines outside of their network, withdrawals could cost some users more than $8.”
Read the full story here: http://www.finextra.com/news/fullstory.aspx?newsitemid=22373
