2019 US Virgin Islands Code
Title 9 - Banking
Chapter 11A - Consumer Funds Transfer Facilities
§ 134. Nonbank automated teller machines

(a) No person other than a bank or foreign bank may establish or operate an automated teller machine except in accordance with the following provisions.

(b) At least 30 days prior to the activation date of any nonbank automated teller machine, its nonbank operator shall provide to the Office:

• (1) a written notice that accurately sets forth the following information with regard to such machine:

  • (i) the nonbank operator's name, address, and telephone number;

  • (ii) the location, name and address of each machine;

  • (iii) the activation date;

  • (iv) a statement that the only service provided is the dispensing of cash;

  • (v) the processor's name, address, and telephone number;

  • (vi) the servicing agent's name, address, and telephone number; and date of last service; and

  • (vii) the dated signature, name, title, address, and telephone number of the person completing the notice.

(c) An annual fee of $150, shall be paid to the Government of the Virgin Islands, for each nonbank automated teller machine.

(d) The nonbank operator, without being assessed a fee, shall promptly notify the Office in writing of any of the following:

• (1) any changes to the information required under subsection (b) as provided in the most current notice; and

• (2) any changes in the operation of the nonbank automated teller machine.

(e) The Office may at any time verify the completeness and accuracy of any notice required under this subsection, and in connection therewith:

• (1) If the nonbank operator fails to promptly provide adequate documentation to and upon request of the Director,

  • (A) the Office shall inform the nonbank operator of such failure and the consequences thereof; and

  • (B) the nonbank operator's automated teller machine shall not be deemed in compliance for purposes of this chapter until the provisions of this section are fulfulled.

• (2) If the office determines that any information provided in the most current notice is incomplete or inaccurate,

  • (A) The Office shall inform the nonbank operator of such discrepancy and the consequences thereof; and

  • (B) The nonbank operator's automated teller machine may not be deemed in compliance for purposes of this chapter until the provisions of this section are fulfilled.

(f) The nonbank operator of an automated teller machine who fails to completely and accurately abide by this section may not legally establish or operate such automatic teller machine until this section is fully complied with, except that a fee of $250, rather than $150, shall be paid.

(g) In lieu of the nonbank operator, the automated teller machine's servicing agent may submit to the office any information, documentation, or fees required pursuant to this section.

(h) Any nonbank operator shall clearly and conspicuously disclose on a sign posted an the nonbank automated teller machine or in clear view of a consumer viewing such machine:

• (1) The name of the nonbank operator;

• (2) A disclaimer indicating that the nonbank operator is not a bank or a credit union; and

• (3) The name, address, and 24-hour, toll-free telephone number where consumers may direct inquiries or complaints.

(i) An operator who collects a fee for the use of a cash-dispensing machine shall, in addition to the amount paid to the Government of the Virgin Islands, remit ten percent of the amount collected to the Government of the Virgin Islands to be credited to the Tourism Advertising Revolving Fund.