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Calls to stop fee charging ATMs

Fri, 11 Nov 2005

New concerns have been raised over the future of free ATM machines, as an introduction of blanket charges becomes increasingly likely.

Nationwide has warned that UK cardholders could pay up to £250 million to withdraw cash from ATMs.

The society predicts that there will be a gradual replacement of non-charging, non-branch based money outlets as machine providers look to cash in on the convenience and speed of ATMs.

Research by the building society revealed there has been a 16 per cent increase in charging cash machines in the UK in 2005, with a corresponding decrease in free machines. This has lead to Nationwide calling for a reform of the system. Nationwide executive director, Stuart Bernau, said: "There are fewer free cash machines than there were this time last year and more charging machines.

"If this pattern continues, there is a real possibility that free access to cash will not survive other than at bank and building society branches and a few other locations such as main post offices."

The building society is asking for greater "transparency" on ATM charges so customers are aware which machines charge and which do not.

The lender believes that clearly placed green, for free machines and red, for those that charge, should be introduced at every outlet, helping to reduce consumer’s confusion and unnecessary charging.

Research confirms that the majority of the general public are against the introduction of fees when withdrawing cash, with 93 per cent of adults labelling it as "unacceptable."
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