Q Office of the Lieutenant Governor



Division of Banking and Insurance



Virgin Islands



#5049 Kongens Gade, Chadlotte Amalie, St. Thomas, USVI (0802-6487 @ (340) TT4-7166 @ Fax (340) 774-9458



1131 King Street, Suite 101, Christiansted, St. Croix, USVI 0820 @ (340) 773-6459 @ Fax (340) 719-3801



BULLETIN 2014-07



TO: NON-BANK ATM PROVIDERS



RE: INCREASE IN THE MAXIMUM NON-BANK ATM FEE A PROVIDER

COULD CHARGE



Purpose and Scope.



Act. No 6727 approved by Governor Charles W. Turnbull on March 5, 2005, provides

“that until subsequent determination by the Virgin Islands Banking Board the maximum

financial transaction fee shall be $2.50." The financial transaction fee referred to in this section

applies to Non-Bank ATM only. This Bulletin has been created to notify non-bank atm

providers that the Virgin Islands Banking Board met on October 29, 2014 to address among

other things a request to increase the maximum Non-Bank ATM Fee which providers could

charge consumers. The Board has approved a fee increase for Non-Bank ATM providers up to a

maximum of $3.00 per transaction. However, it is noted the maximum fee should be

commensurate with the maximum dollar amount available for withdrawal. Further, prior to any

provider utilizing this new fee, notice must be provided to the Board of (1) the provider’s intent

to begin usage of the fee and (2) the maximum dollar amount available for withdrawal.



Effective Date.

Change in fee shall be effective October 29, 2014.



Dated this LG ia day of December, 2014 at St. Thomas, U.S. Virgin Islands.



i



Z, Gregory R. Francis

icutenant Governor/ Chairman of the Banking Board