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 certain 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 seeks to provide financial relief to consumers by capping ATM fees, thereby promoting fair access to banking services. The introduction of this fee limit reflects an effort to enhance consumer protection within the financial sector in South Carolina.

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