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Airport signs ATM leases with Wells Fargo and JPMorgan; surcharge cap set at $1.50
Summary
The subcommittee forwarded two competitive‑bid leases for ATM operations at SFO domestic terminals and the rental car center (Wells Fargo and JPMorgan Chase). Staff estimates roughly $1 million in first‑year rent under minimum guarantees and said the airport capped customer surcharges at $1.50.
The Budget & Finance Subcommittee on May 11 forwarded to the full Board two resolutions awarding ATM leases in San Francisco International Airport—s domestic terminals to Wells Fargo Bank and JPMorgan Chase Bank.
Kathy Widener of the airport said the two leases resulted from a competitive bid and will operate a total of 22 ATMs in the terminals and the rental-car center. Leases offer either 70 percent of gross revenues or a minimum annual guarantee; airport staff said they expect the operators to pay the minimum guarantees in the first year, producing an estimated $1,000,000 in rent.
Supervisors asked whether one bank would control all machines in a terminal; Widener replied that each terminal—s ATMs will be one of the two operators, and that Bank of America bid but did not win one package. Board members also raised customer-fee concerns. Widener said the airport capped surcharge fees at $1.50 (industry practice is up to $3), explaining the gross‑revenue share in leases is tied to surcharge income.
Budget Analyst Mister Rose added that the projected $1,000,000 represents about a 200 percent increase in ATM revenues versus 2009.
The committee moved both items forward without objection; the full Board will consider final approval and staff said they will present additional lease details when requested.
