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Can you summarize NHRS 383-B:7-705?
DEPOSITORY BANK ACT > Automated Teller Machines; Fee Disclosure.
Short Summary
This section of the New Hampshire Revised Statutes, under the DEPOSITORY BANK ACT, governs the ownership and operation of automated teller machines (ATMs) by depository banks. It clarifies that ATMs are not considered branches and that depository banks are not required to file a notice or application with the commissioner to establish, own, or operate an ATM. However, if a depository bank charges a fee for the use of an ATM, the amount of the fee must be clearly and conspicuously disclosed. The disclosure can be made through a sign posted on the ATM or electronically during the transaction, allowing the user to cancel the transaction without incurring the fee. The section also states that separate fees charged by companies under separate agreements with the user are not required to be included in the disclosure. Additionally, this section applies to ATMs owned or operated by foreign banks in the state of New Hampshire. The definition of an automated teller machine includes any terminal, machine, or device that dispenses cash or enables electronic financial transactions involving a user’s account at any depository bank.
Whom does it apply to?
Depository banks, customers using automated teller machines
What does it govern?
Automated Teller Machines; Fee Disclosure
What are exemptions?
Separate fees charged by companies under separate agreements with the user
What are the Penalties?
No specific penalties mentioned
Jurisdiction
New Hampshire