White Label Fees
Customers usually pay an added fee to use these ABMs, which can be split between the private provider and the owner of the property hosting the machine.
According to the Financial Consumer Agency of Canada (FCAC), fees for using a "white-label" ATM can add up to over $6.00 per transaction. The same agency states that private (white-label) operators are "not required to adhere to a minimum or maximum limit", meaning that the fee amount is up to the operator. The operator is obliged, however, to disclose the fee to be charged and give the consumer the option of cancelling the transaction.
CIBC has been criticized for creating a wholly owned subsidiary white label company, "Ready Cash". While many CIBC customers have free access to transactions with official CIBC accounts, as Ready Cash is not a CIBC bank, they are charged twice, once by Ready Cash and once by CIBC.
Local small establishment retailers such as gas stations, bars/pubs, and restaurants are common for putting in the private White Label ATM's to receive a fee for each transaction made at the ATM. Most white-label ATM's charge a minimum C$1.50 for the use of the machine with approximately 50% of that going to the retailer. The C$1.50 is above and beyond what the cardholders financial institution may charge.
Read more about this topic: White Label ABMs In Canada
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