Credit Card News Nationwide Confirms Unpopularity Of Fee Charging Cash Machines 8485931
Nationwide confirms unpopularity of fee-charging cash machines
13 May 2005
Responding to claims made yesterday by the charging machine operator Moneybox that it has seen an upturn in usage of its machines, Nationwide reiterated its position on charging ATMs.
Moneybox, which operates 2,400 cash dispensers in pubs and other locations across the UK, said that the number of transactions recovered in April, compared with levels seen in previous years.
The company said that a decline in press criticism was one key factor in the increased usage of the fee-charging ATMs – a claim picked up on by Nationwide.
“Moneybox appears to be admitting that cash machine charges are unpopular and that when given information on the matter, consumers avoid paying to access their own cash,” said Stuart Bernau, executive director of Nationwide.
“This backs what Nationwide has long been saying: that ATM charges are unpopular and that clearer warnings of charges are needed so that consumers can make an informed choice.”
Nationwide’s research last September found that one third of cash machines in the UK were charging an average of £1.50 for transactions.
These charges could add up to £30 a month for consumers withdrawing £50 per week in five separate £10 withdrawals.
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