There will be more fee-charging ATM machines than free ones in Britain next year, according to a new study.
Sainsbury's Bank calculates that the speed at which charging ATMs are coming onto the market means that within two years, they will be greater in number than free machines.
Between June 2004 and June 2005, there were around 286 fee-charging machines installed each month, while just 53 free ATMs were installed a month.
If this trend continues, then the bank calculates that by next October, there will be 33.821 charging ATMs and 33,718 free machines.
"We are deeply concerned about the dramatic increase in the number of surcharging ATMs and the very real threat that they will soon outnumber the free-to-use machines," said Sainsbury's Bank chief executive Tim Pile.
"We believe that is fundamentally unfair to make consumers pay for using an ATM to access their own money and we urge all consumers to make sure they know whether or not the ATM they plan to use charges for making withdrawals."To read more Banking News, click here.
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