Consumer Payment Card News

Bank Declares War on ATM Fees

USAA Federal Savings Bank has made automated teller withdrawals essentially free for its customers by offering rebates on domestic ATM user fees. USAA FSB waives its $1 fee on the first 10 ATM withdrawals per statement cycle from any non-USAA ATM. Also, the USAA bank rebates up to $1.50 on each of the first 10 non-USAA ATM withdrawals per statement cycle when the ATM’s owner assesses a fee or surcharge. All ATM transactions at any USAA FSB ATM are already free for the bank’s cardholders. USAA FSB operates without branches, yet offers worldwide financial services to 1.8 million customers via phone, mail and personal computer.

FULL STORY:
USAA Federal Savings Bank (FSB) has made automated teller withdrawals essentially free for its customers by offering rebates on domestic ATM user fees.

USAA FSB waives its $1 fee on the first 10 ATM withdrawals per statement cycle from any non-USAA ATM. Also, the USAA bank rebates up to $1.50 on each of the first 10 non-USAA ATM withdrawals per statement cycle when the ATM’s owner assesses a fee or surcharge.

“Escalating user fees and surcharges ATM owners levy have card-carrying customers seeing red,” said Kathleen Wyble, the bank’s marketing vice president. “Now, our customers with a USAA Cash Card or Check and Cash Card can use any domestic ATM and feel better about free and convenient access to their money,” she said. Wyble said all ATM transactions at any USAA FSB ATM are already free for the bank’s cardholders.

USAA FSB is a $6.4 billion full-service bank. It operates without branches, yet offers worldwide financial services to 1.8 million customers via phone, mail and personal computer. Wyble said the bank offers its deposit customers one of the best values in banking today: top quality service; highly competitive rates on accounts, without monthly service charges; and rebates on ATM surcharges.

USAA, the bank’s parent, has been serving present and former members of the U.S. military and their families for more than 75 years as one of America’s leading insurance and financial services companies. The association, well known for its exceptional customer service, offers its 3 million members and associate members a full range of insurance, banking and investment products and services designed to help them meet their financial security needs. Headquartered in San Antonio, with offices throughout the United States and Europe, USAA owns or manages assets of more than $45 billion.

Consumers can get more specific information about USAA FSB products and services by calling 800/531-2265.

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