Bankrate.com Study Finds ATM Surcharges Continue to Climb; Checking Account Pricing Study Shows ATM Fees Reach Record Level.Business/Technology Editors NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--March 20, 2000 Bankrate.com, a division of the ilife.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ILIF ILIF International Logistics Information File ILIF Integral Lock Induced Failure (firearms) ) family of Web sites, today announced the findings of its semi-annual Checking Account Pricing Study. The study finds 83.3 percent of institutions surveyed now charge non-customers for using their ATMs - up from 77.7 percent in October 1999 and 68.7 percent a year ago. According to the study, more institutions are surcharging non-customers, and charging more, for use of their ATMs. Although the most common charge remains $1.50, 56 percent of the institutions charge non-customers $1.50 or more for this service. This is an increase in the number of institutions requiring these high surcharges from 49 percent in October 1999 and 44 percent a year ago. "The public outcry over ATM surcharging has not deterred institutions one bit," said Greg McBride, Financial Analyst with bankrate.com. "Surcharges are more prevalent now and are hitting consumers even harder than before." Bankrate.com has forecast the total cost to consumers of ATM surcharges at over $2 billion this year. This is an increase of six percent from the 1999 bankrate.com estimate of $1.9 billion and a staggering 28 percent jump from the 1998 estimate of $1.5 billion. The full results of the survey, and a detailed breakdown of the fees, will be published at the end of March on www.bankrate.com in the checking/ATM channel. Bankrate.com is also distributing a special TV segment on its ATM findings to participating stations across the country for their local news programming. Greg McBride, Financial Analyst for ilife.com, is available to discuss the customer ramifications ramifications npl → Auswirkungen pl of the study. About Bankrate.com Bankrate.com provides consumers with financial data, research and editorial information on non-investment financial products. A large research team surveys some 4,000 financial institutions every week in order to provide objective rate information on banking products including mortgages, credit cards and auto loans. Bankrate.com is unique in its approach to offering objective rate information on 130 markets in all 50 states and Puerto Rico. About ilife.com Based in North Palm Beach, Fla., ilife.com (NASDAQ: ILIF) is an industry leader in creating, producing, broadcasting and syndicating personal finance information for the online consumer public through a broad portfolio of Web sites, print publications and TV and radio segments. The company's personal finance portal, www.ilife.com, features original content that deals with financial planning, taxes, insurance, investing and banking. The portal serves as a gateway to ilife.com's family of Web sites and broadcast segments, including the award-winning bankrate.com, Pivot.com, theWhiz.com, IntelligentTaxes.com, Consejero.com, CPNet.com, GreenMagazine.com and the TV and radio version of "Cost of Life." Content from ilife.com is published on co-branded Internet sites through more than 70 distributors, including NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. Internet, Inc. (NASDAQ: NBCI NBCI National Biological Control Institute (USDA subsidiary) NBCI North Branch Correctional Institute (Maryland) NBCI National Broadcasting Company Internet/Interactive ), Yahoo! (NASDAQ: YHOO YHOO Yahoo! Inc. (NASDAQ symbol) ), CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. , America Online (NYSE NYSE See: New York Stock Exchange : AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ) and Smart Money. The company's original research is also distributed through more than 120 national and state publications. Ilife.com sites have approximately one million unique visitors per month, according to Media Metrix. |
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