Section 58-16-14.1 - Transaction fee. - New Mexico Statutes

58-16-14.1. Transaction fee.

A.     A financial institution may charge a reasonable foreign transaction fee for use of an automated teller machine if the fee is disclosed:   

(1)     on a sign posted on the automated teller machine or in clear view of the customer while viewing the machine; or   

(2)     electronically during the course of the transaction in a manner that permits a customer to cancel the transaction without incurring the foreign transaction fee.   

B.     For the purpose of this section, "foreign transaction fee" means a fee charged for the use of an automated teller machine to a noncustomer of the financial institution that owns the machine.