(1) For the purposes of this section, the following words shall have the meaning herein described unless the context shall otherwise require:(a) “Electronic terminal” means an automated, virtually staffed or unstaffed banking facility owned or operated by, or operated exclusively for, a federally insured bank or thrift, such as an automated teller machine (ATM), interactive teller machine (ITM), cash dispensing machine or other remote electronic terminal, that is open to the general public and at which deposits are accepted, cash is dispersed, money is lent or an electronic fund transfer is initiated.An “electronic terminal” is not a “branch” under Title 81, Mississippi Code of 1972, and is not subject to state licensing requirements.(b) “Electronic fund transfer” means any of the following:(i) The withdrawal of cash from or the deposit of cash or checks into an electronic terminal, such as an automated teller machine, but not including night depositories;(ii) An application for or acceptance of a loan through use of an electronic terminal;(iii) The transfer of funds between accounts through use of an electronic terminal; or(iv) The issuance of a check by an electronic terminal.(c) “Electronic fund transfer” does not mean access to accounts, the application for or acceptance of a loan, the transfer of funds between accounts or other banking services accomplished through the use of a personal computer or telephone.(d) “Interactive teller machine” or “ITM” means an automated, virtually staffed or unstaffed facility, owned or operated by, or operated exclusively for, a federally insured bank or thrift, and that is equipped with video-based interactive technology allowing customers to conduct transactions and financial services driven by a centrally based teller, in a real-time video or audio interaction.
(a) “Electronic terminal” means an automated, virtually staffed or unstaffed banking facility owned or operated by, or operated exclusively for, a federally insured bank or thrift, such as an automated teller machine (ATM), interactive teller machine (ITM), cash dispensing machine or other remote electronic terminal, that is open to the general public and at which deposits are accepted, cash is dispersed, money is lent or an electronic fund transfer is initiated.
An “electronic terminal” is not a “branch” under Title 81, Mississippi Code of 1972, and is not subject to state licensing requirements.
(b) “Electronic fund transfer” means any of the following:(i) The withdrawal of cash from or the deposit of cash or checks into an electronic terminal, such as an automated teller machine, but not including night depositories;(ii) An application for or acceptance of a loan through use of an electronic terminal;(iii) The transfer of funds between accounts through use of an electronic terminal; or(iv) The issuance of a check by an electronic terminal.
(i) The withdrawal of cash from or the deposit of cash or checks into an electronic terminal, such as an automated teller machine, but not including night depositories;
(ii) An application for or acceptance of a loan through use of an electronic terminal;
(iii) The transfer of funds between accounts through use of an electronic terminal; or
(iv) The issuance of a check by an electronic terminal.
(c) “Electronic fund transfer” does not mean access to accounts, the application for or acceptance of a loan, the transfer of funds between accounts or other banking services accomplished through the use of a personal computer or telephone.
(d) “Interactive teller machine” or “ITM” means an automated, virtually staffed or unstaffed facility, owned or operated by, or operated exclusively for, a federally insured bank or thrift, and that is equipped with video-based interactive technology allowing customers to conduct transactions and financial services driven by a centrally based teller, in a real-time video or audio interaction.
(2) The establishment of electronic terminals are matters to be determined by a state bank or thrift in its discretion, according to sound banking judgment and safe and sound banking principles. No prior approval of the Commissioner of Banking and Consumer Finance is required for a state bank or thrift to establish or decommission electronic terminals.
(3) For the use of its electronic terminals connected to sharing networks or systems, a bank may impose a fee if imposition of the fee is disclosed at a time and in a manner that allows a user to terminate or cancel the transaction without incurring the transaction fee. Because this power is an inherent element of a state banks’ authority to conduct the business of banking, the setting or changing of such fee amount is a matter to be determined by a state bank or thrift in its discretion, according to sound banking judgment and safe and sound banking principles.
An agreement to share electronic terminals shall not prohibit, limit or restrict the right of a bank to charge such fees for the use of its electronic terminals as allowed by state or federal law, or require a bank to limit or waive its rights or obligations under this section.