N.Y. businessman trades ads for ATM fees

Which would you prefer: A $2 fee or a 15-second commercial? (AP)

WASHINGTON – Your next $20 bill could come with a sponsor.

A Brooklyn entrepreneur is pushing fee-free ATMs that play advertisements while a transaction is processed, instead of charging fees for users who aren’t bank customers.

Clinton Townsend tells The New York Times he wants to install the machines in areas of New York City not served by big banks, and where users are hit with large transaction fees. He says the ads typically last less than 15 seconds.

Towsend’s FREE ATMs NYC operates its first machine at the Knitting Factory in Brooklyn’s Williamsburg neighborhood.

What about you? Would you rather watch an ad or pay $2 to take out some cash? Let us know in the comments below.

WTOP’s Malini Wilkes contributed to this report. Follow WTOP on Twitter.

(Copyright 2011 by WTOP. All Rights Reserved.)

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