2019 US Virgin Islands Code
Title 9 - Banking
Chapter 11A - Consumer Funds Transfer Facilities
§ 133. Transaction fees for consumer funds transfer facilities
(a) Any bank or foreign bank operating or sharing the use of a consumer funds transfer facility may:
(1) make the facilities available for use by account holders of banks, foreign banks or other financial service providers other than the institution owning the facility;
(2) connect the facility with a regional or national consumer funds transfer system for the purpose of handling financial transactions;
(3) impose a reasonable financial transaction fee for the use of an automated teller machine by persons other than those account holders of such banks or foreign bank, if the imposition of the fee is disclosed at a time and in a manner that allows the user to terminate or cancel the transaction without incurring the transaction fee. Ten percent (10%) of such fees shall be paid not less than quarterly by such bank, or foreign bank to the Commissioner of Finance for deposit within the Tourism Revolving Fund established pursuant to Title 33, Section 3072, Virgin Islands Code. This fee may be in addition to any other charges imposed by the operator of any consumer funds transfer system or by any other financial institution.
(b) The fee provided in subsection (a), paragraph (3) of this section applies only to automated teller machines.
(c) An agreement to share automated teller machines may not:
(1) prohibit, limit, or otherwise restrict the right of a bank or foreign bank to charge a customer any fee allowed by territorial or federal law;
(2) require a bank or foreign bank to limit or waive its rights or obligations under this chapter.
(d) A nonbank operator may impose a reasonable financial transaction fee for use of an automated teller machine but only if the amount of the fee is clearly and conspicuously disclosed as follows:
(1) on a sign posted on the automated teller machine or in clear view of a consumer viewing such machine; and
(2) electronically during the course of the transaction in a manner that permits the consumer to cancel the transaction without incurring the fee.
