The bill H. 3239 aims to amend the South Carolina Code of Laws by adding a new section, 34-3-105, which establishes a limit on the fees that banks or financial institutions can charge for cash transfers, deposits, or withdrawals conducted at automated teller machines (ATMs). Specifically, the bill stipulates that these institutions may not charge a fee exceeding $1.50 for such transactions, provided that their charges are not solely regulated by federal law.

This legislation is set to take effect on January 1, 2026, and is intended to provide financial relief to consumers by capping ATM fees, thereby promoting fair access to banking services.

Statutes affected:
12/05/2024: 34-3-105
Latest Version: 34-3-105
12/06/2024: 34-3-105