NYCE Increases ATM Interchange Fees

- WOODCLIFF LAKE, N.J. (04/01/02) - NYCE Corp. saidit is postponing its planned April 1 effective date for apoint-of-sale debit interchange rate increase until May 1, butincreases to the electronic funds transfer (EFT) network's ATM feeswill go into effect on April, 1, as planned. Adjustments in ATMinterchange will commence April 1 as planned because there were nocompetitive reasons to change that rate structure, according to thecompany. The interchange for off-premise withdrawals is increasingto 55 cents from 50 cents, while the on-premise withdrawal ratewill stay at 38 cents. Deposit interchange is increasing to $2 from$1 on-premise, and to $2.25 from $1 for off-premise deposits. NYCE,which is majority owned by First Data Corp., provides EFT servicesfor more than 2,300 financial institutions, including 1,100 creditunions.