Charlotte extends exclusive ATM airport deal with Bank of America

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.

This story was originally published December 24, 2016 at 11:40 AM with the headline "Charlotte extends exclusive ATM airport deal with Bank of America."