Put Out an APB! Many ATMs May Soon Disappear

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Put Out an APB! Many ATMs May Soon Disappear

Sep, 9th 2016

Starting in October, some small-business owners face a tough decision

Using your bank’s ATM is already a good move if you’re trying to avoid paying withdrawal fees for going out of network. And soon, you might be forced to use your bank’s ATM more often: There may be fewer third-party ATMs at places like bodegas, restaurants and bars.

Starting in October, MasterCard MA, -1.24% will no longer take financial responsibility for counterfeit charges on MasterCard debit and credit cards, if the fraud occurred because a card was compromised on an ATM that is not upgraded to work with EMV or chip-enabled cards.

Visa V, -1.48% will adopt the same policy starting in October 2017.

After the shift, MasterCard and Visa will hold whichever party has the least secure technology responsible...

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