Bank of America will continue to be the exclusive ATM provider at Charlotte Douglas International Airport.
The City Council this month approved a new three-year contract with the hometown bank that includes two one-year extensions if the city wishes to exercise them.
Before 2011, four banks had ATMs at the airport. That year, however, the City Council awarded Bank of America a five-year exclusive agreement.
This deal extends that original contract. Bank of America will pay the city an annual flat fee of $1.596 million and 75 cents for each transaction fee it collects.
The city estimates the transaction fee revenues will be $318,750. There are 14 ATMs in the airport.
Exclusive deals with airports and a single bank have become more common in recent years.