Everybody but the consumer. Banks say the surcharge helps them cover the cost of buying, installing and maintaining ATMs. Advocates say it's all about profits, and the losers are consumers and smaller financial institutions. Santa Monica, says Radinsky, is an example. People avoid surcharges by taking their business to the big banks with larger ATM networks.
People leave the small banks.
Laura Polacheck, senior analyst in the division of legislation of public policy for AARP , agrees. The theory that banks do this to discourage giving business to other banks makes no sense. They are gouging people for pure profit. Stick to your own bank's ATM network. Switch to a bank with a larger ATM network if you do most of your banking that way.