BOSTON -- BayBanks Inc. said it will raise to $2.00 the fee charged to customers who conduct transactions at automated teller machines outside the bank's XPress24 network.
The fee, which takes effect June 1 and will apply to transactions traveling on the Cirrus and NYCE ATM networks, is strikingly higher than the $1.25 that other large banks in the New England region charge for so-called "foreign" transactions.
BayBanks said it expects consumer reaction to the fees to be negligible because the bank's customers are able to conduct transactions free of charge at any one of about 1,000 BayBanks-owned ATMs.
BayBanks also raised the fees on transactions within XPress24. Starting in June, a BayBanks customer using an XPress24 ATM not owned by BayBanks will pay $1.00 for each transaction instead of 75 cents.
XPress24 boasts about 1,300 ATMs. All of BayBanks terminals participate in the network.
