A. A financial institution may charge a reasonable foreign transaction fee for use of an automated teller machine if the fee is disclosed:
(1) on a sign posted on the automated teller machine or in clear view of the customer while viewing the machine; or
(2) electronically during the course of the transaction in a manner that permits a customer to cancel the transaction without incurring the foreign transaction fee.
B. For the purpose of this section, "foreign transaction fee" means a fee charged for the use of an automated teller machine to a noncustomer of the financial institution that owns the machine.
History: 1978 Comp., § 58-16-14.1, enacted by Laws 1995, ch. 190, § 18.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 16 - Remote Financial Service Units
Section 58-16-1 - Short title.
Section 58-16-2 - Purpose of act.
Section 58-16-3 - Definitions.
Section 58-16-4 - Restrictions on provision of financial services.
Section 58-16-5 - Point-of-sale terminals.
Section 58-16-6 - Use of automated teller machines.
Section 58-16-7 - POS terminal not considered a financial institution branch office.
Section 58-16-9 - Off-premises ATM considered a financial institution branch office.
Section 58-16-10 - Notice to director.
Section 58-16-10.1 - Repealed.
Section 58-16-11 - Restrictions on owning, leasing and operating.
Section 58-16-13 - Confidentiality.
Section 58-16-14 - Issuance of card; liability of cardholder; limits of liability.
Section 58-16-14.1 - Transaction fee.
Section 58-16-15 - Civil liability.
Section 58-16-16 - Criminal penalty.