Why is there an ATM fee at Chase bank

[arsenic1016]

I've been withdrawaling money from PayPal through Chase ATM for years.  I've never been charged an ATM fee other than the $1 PayPal fee.  So yesterday, I go to the Chase ATM to withdrawal money just like I always do.  It says "this ATM charges a $3 fee".  When did that happen?

[noblechuck]

Ditto, never had that happened until today. Socked with a $3.00 fee on an ATM withdrawal today, on top of the usual $1. Is this now a Chase policy or added fees from Paypal?

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@arsenic1016 wrote:

I've been withdrawaling money from PayPal through Chase ATM for years.  I've never been charged an ATM fee other than the $1 PayPal fee.  So yesterday, I go to the Chase ATM to withdrawal money just like I always do.  It says "this ATM charges a $3 fee".  When did that happen?

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[arsenic1016]

It's not a paypal fee.  It's an ATM fee.  Paypal doesn't get the money, JP Morgan Chase does.

[noblechuck]

Understood. Was just questioning why now? And why are you and I the only two talking about it? I have searched the web and have yet to find any other conversations about this. Chase claims it's their policy, person I talked with didn't know that Paypal debit card users were ever immune to this fee, have the feeling I wasn't talking to the person who was going to be a problem solver.

[arsenic1016]

Yeah, that's what I want to know.  I also tried to find information and couldn't come up with anything.  After all, the debit card is issued by Chase bank.  I'm at a loss.

[jen10001]

Agreed, just saw this fee for the first time last night. Would like an explanation, is another bank now handling paypal's money? Waiting 3-4 days for the money to transfer into my account rather than being able to just hit up the ATM for a measly $400 stinks, IMHO.

[noblechuck]

Answer found... thanks to the respondent to my post at ebays Discussion Board

March 12, 2012 12:00 PM Eastern Daylight Time

“The Bancorp Bank Is the New Issuer for the PayPal Debit MasterCard Card”

http://www.marketwatch.com/story/the-bancorp-bank-is-the-new-issuer-for-the-paypal-debit-mastercard-...

http://www.businesswire.com/news/home/20120312005763/en/Bancorp-Bank-Issuer-PayPal-Debit-MasterCard-...

The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced that it is the new issuer for the PayPal Debit MasterCard® card. The PayPal Debit MasterCard card can be used worldwide at ATMs, online, and everywhere Debit MasterCard is accepted. It also offers the possibility to earn 1 percent cash back whenever a cardholder is enrolled into the PayPal Preferred Rewards Program.

“We are thrilled to work with PayPal to bring the PayPal Debit MasterCard card to their 106 million active users,” said Jeremy Kuiper, Managing Director – The Bancorp Payment Solutions Group. “Consumers want to be able to feel secure when shopping online with a debit card, and with PayPal's dedication to security, we're able to deliver a great solution with the PayPal Debit MasterCard card."

[Jspec]

Does bancorp have ATM's? If not it does nothing for the paypal users it is just another way paypal and ebay get you for more fees. I wish someone came along and knocked Ebay and Paypal off their throne!!!

[BoulderPawn]

This is garbage.  I can't fathom any small business owner accepting $4.00+ per cash withdrawl from an ATM when we've already paid PayPal a transaction fee to process the money. 

Either lift daily withdrawl limits, or omit ATM "fees" since there seems to be NO way to locate Bancorp Inc. ATM's. 

Now PayPal needs to issue everyone new debit cards since they all have JP Morgan Chase printed on the back as the issuing bank? 

[noblechuck]

Added information-

Spoke with Paypal rep yesterday, they seem to have no clue as to why this is happening. They said they were receiving plenty of calls, but seemed to have been blind-sided. When I mentioned the Bancorp information, the rep knew nothing about it. 

Bottom line is if you are a seller and want "predictable"  access to your funds (I don't consider fund transfer to my bank as predictable 2-6 days is too wide a guess), you are left with few choices. For me, since I bank at Chase it was convenient. Now it appears I am back to going to the Post Office for Money Orders. 

Tried the Mastercard app to locate "Surcharge Free" ATM.... there are none in Chicagoland area, perhaps a bigger city would have some, LOL!