Credit Card News Fee Charging Cash Machines Set To Multiply 8246044

Fee-charging cash machines set to multiply

11 April 2005
The number of cash machines charging customers for transactions is set to increase as the Cashbox company reveals plans to install 18,000 of them.

Cashbox is currently raising £20 million in the financial markets to fund the installation of the machines, which will be placed in convenience stores, pubs and off-licences.

The new machines will see the number of ATMs in Britain swell to 70,000, more than half of which – 39,000 – will be fee-charging.

Fee-charging ATMs have proved controversial recently. A Treasury Select Committee report published at the end of March recommended that they carry a visible label, and the committee’s chairman John McFall MP described the rapid growth in their number as “very worrying.”

However, the number of free machines has increased together with the fee-charging ones, meaning that withdrawing money in the UK is becoming more convenient both with and without charges.

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Written by Editorial Team