Methodology*

ATM/Debit Card Survey - In March and April 2004, a team of Field Study Participants surveyed bank-owned and non-bank-owned ATMs in New York State to determine whether the banks assessed a surcharge and the amount of the surcharge. Then, the field study participants visited local bank branches to obtain fee schedules with information about foreign ATM fees to withdraw money and to access account information, debit card fees and other notable ATM fees. Surveyors attempted to obtain fee information that was missing from the fee schedules off the banks’ web sites and/or from the New York State Department of Banking Web Site.
For the purpose of the ATM surcharge practices, data was calculated based on the number of ATMs surveyed. ATMs owned by the same bank or ISO were counted once per region (NYC, Long Island, Upstate NY) where they were surveyed unless they had different surcharging practices. The rest of the ATM fee calculations were made based on the number of different banks surveyed in the state.

Pre-Paid Card Survey - The information in the report on pre-paid cards was obtained from the fee schedules on those cards’ web sites and/or from the Credit Card Directory web site.

Credit Card Survey - The information in the report on bank-owned credit cards was obtained from the Top Ten Bank Credit Card Issuers as of June 30, 2000, a list from cardweb.com; the NYS Banking Department and Federal Reserve surveys; the web sites off the credit cards and by calling the credit cards companies in March 2004 ( 53). The information in the report on store-owned credit cards is secondary research obtained from bankrate.com; the Detroit News; and a survey and report on store credit cards that was released by Senator Charles Schumer (D-NY). ( 54)

Gift Card Survey - The information in the report on gift cards is secondary research obtained from the Massachusetts Office of Consumer Affairs and Business Regulation. ( 55)

* Every effort was made to ensure the accuracy and completeness of the information included in this report. To the extent that surveyors were unable to obtain fee information in certain categories, those spaces were left blank on the data grids. The data grids are included in the attachments to this report.

Introduction | ATMs-Always Taking Money | Debit Card Confusion | Pre-paid Cards-The Priciest Plastic of All | The Credit Card Trap
Bye-bye Paycheck-Payroll Cards | Don't Save that Gift Card for a Rainy Day | A Tale of Two Wallets | Recommendations | Methodology | Attachments | Credits