Nationwide makes cash withdrawals clearer

30 September 2005
Nationwide is putting signs on all of its ATMs to let customers know if they will be charged for withdrawing money, after a survey last year found that withdrawal charges cost Brits £200 million a year.

The report by the bank in 2004 found that Britain's network of free cash machines was at risk and as result Nationwide is putting signs on all of its ATMs.

Nationwide's executive director, Stuart Bernau, said: "The industry has been dragging its heels over providing real clarity for consumers regarding cash machine charges.

"Consequently, Nationwide is taking action by implementing a straightforward solution to counter consumer confusion.

"Green and red signs, which are visible at-a-glance, will be instantly recognisable and their introduction is supported by an overwhelming majority of people."

A Nationwide survey found that 97 per cent of people wanted clearer signage on machines that charged for withdrawals and ones that did not.

The row over free withdrawals erupted yesterday when Britain's biggest independent ATM operator, Cardpoint, revealed that it makes millions in withdrawal charges.

The 275 cash machines were formerly non-charging under ownership of HBOS, but under Cardpoint, people are charged £1.75 to withdraw money.

Banks in rural southern Japan this week will start using a hi-tech fingerprint system to detect fraud at cash machines.

The technology works by firing infra-red beams at the individuals figure, thus identifying them and letting them withdraw cash without risk from fraud.

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