interest rate for cost of cash in ATM network
I work in a bank, and there is ongoing small debate which rate rate should be used and what is the rationale – short term (basically overnight) or rather long term ?
Banks don’t typically charge interest on cash that a customer withdraws from their account through an ATM. Some banks charge fees of $1 – $3 or occasionally a fee up to 2 – 3%. However, these fees are relatively rare for in-network ATMs.
Hope this helps,
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