NYCE Corp. has amended its rules to give its member financial institutions surcharging flexibility.
In what is known as selective surcharging, members can enforce their fee preferences by forming alliances within the network.
The intent is to let network participants, especially smaller institutions, expand the number of surcharge-free ATMs available to their cardholders.
"This is truly exciting news," said Dennis F. Lynch, president and chief executive officer of NYCE. The policy "will provide both financial institutions and consumers with more options."
When the rule goes into effect July 15, NYCE will join regional networks such as Honor Technologies Inc. and Pulse EFT Association that have also amended so-called nondiscrimination rules.