The expected no-fee ATM is still in the process of being placed in the Student Union Building. According to the Vice President for Administrative Services Nancy McKinney, the issue has not advanced much further since June.
McKinney said they have no contract as of yet and cannot offer much solid news as to when they will be able to replace it.
As for the benefits of a no-fee ATM, McKinney said on average the ATM is used 171 times per month.
“If we are able to get a no-fee ATM, there would be a monthly charge to the college, but no transaction fee to the users of the ATM. I imagine if there were no fee, it would be used more frequently,” she said.
Dean of Student Life David Rector said none of the banks that submitted a bid included a no-fee ATM.
“The college has continued searching for a way to get a no-fee ATM on campus, and may have found a financial institution willing to provide one,” he said. “As the college is still in the process of working out the details, it would be premature to name any financial institution at this time.”
According to Rector, students and staff will benefit from a no-fee ATM financially because they would not have to pay the $2.50 fee per transaction. He said he normally chooses to wait rather than withdraw from the ATM because of the fee.