Capital One has decided to stop offering its ATMs with a $10-per-month introductory rate.
The decision comes as a result of rising interest rates and an ongoing investigation by the Federal Trade Commission into the company’s payment practices.
The Federal Trade Commissioner said the company did not have enough information to conduct an investigation.
Capital One said that customers could still pay up to $25 per month on their existing ATMs for the remainder of the term.
It added that customers who are paying $10 or more per month will receive a 30-day grace period for a $5 payment.