Big Banks Waive ATM Fees for Public Benefits Employees

Bank of America, JPMorgan Chase and Wells Fargo have agreed to waive ATM fees for Californians who receive public benefits; beneficiaries need to receive benefits on a state issues transfer card according to the California Reinvestment Coalition; this will allow people to get use of every dollar of benefits and the hope is more banks will soon follow; the banks are looking to improve the financial health of customers, they previously collected more than $20mn in fees that will now be back in customers pockets. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.