Bill > H3239

This bill aims to limit the fees that banks and financial institutions in South Carolina can charge for automated teller machine (ATM) transactions. Specifically, the legislation would cap fees at $1.50 for cash transfers, deposits, or withdrawals conducted at ATMs for banks and financial institutions not exclusively regulated by federal law. The new regulation would take effect on January 1, 2026, giving financial institutions time to adjust their fee structures. By introducing this fee limit, the bill seeks to protect consumers from what lawmakers likely view as excessive ATM transaction charges, potentially making cash access more affordable for South Carolina residents. The bill would be added to Article 1, Chapter 3, Title 34 of the South Carolina Code of Laws as Section 34-3-105, creating a new standard for ATM fee pricing in the state.

Business and Industry

https://www.scstatehouse.gov/billsearch.php?billnumbers=3239&session=126&summary=B