The Charlotte, N.C.-based bank has hauled off more than 1,500 ATMs from shopping malls, grocery stores and gas stations this year, the bank confirmed Monday.
That means customers will have to pay at least $2 to use another bank’s automated teller — or take hike to find a Bank of America location to get fee-free cash. The shrinkage comes as the bank focuses on cost-cutting and Americans change how and where they use ATMs.
Tara Burke, a spokeswoman for the bank, said that most of the locations losing ATMs were those with limited access, and were machines that only dispensed cash, rather than those accepting deposits. More than half of the bank’s deposits are made through an automated teller, she said.