Your Money

By Daniel Eisenberg

THE HIGH PRICE OF ATMs

If you're sick of fees at ATMs, you're not alone. Since most customers have to pay their banks $1 when they use a "foreign" machine, Senator Al D'Amato wants to outlaw surcharges, the $1.50 that cardholders increasingly also have to pay to the ATM operator. Last week the Justice Department began investigating whether the two largest ATM networks, Cirrus and Plus, are preventing small banks from abolishing surcharges. (Owners MasterCard and Visa, respectively, say they are cooperating.) For now, look for small banks that are cutting ATM fees for their customers.

A NEW FORM OF CURRENCY

Don't be alarmed by the strange-looking $20 bills spilling out of ATMs this fall. The newly designed denominations, which go into circulation in late September, are just the Treasury's latest weapon against counterfeiters. The phony-proof paper features a larger portrait of President Jackson and a watermark that's visible only when held up to a light.

CREDIT UNIONS OPEN DOORS

Many workers at small businesses will soon have the option of banking at a credit union, thanks to a bill the President signed last week. Under the guidelines, which overrule a Supreme Court decision, groups of workers from different companies can join the same credit union. The nonprofit financial cooperatives offer better rates on savings and loans to 73 million Americans.

--By Daniel Eisenberg