JP Morgan Chase discontinues ATM fee experiment

May 3, 2011 6:14:21 PM PDT
An experiment to charge non-customers much higher fees to use ATMs has been stopped by one of the nation's largest banks.

JP Morgan Chase says a proposal to raise its ATM fees for non-customers to as high as $5 has been set aside.

Fees of $5 were being charged in Illinois and $4 was being charged in Texas. Chase wanted to see if the fees brought in enough revenue to expand it nationwide. The fees for non-customers have since gone back to the $3 the bank previously charged.

JP Morgan Chase says it has no plans to implement the experiment anywhere else.

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