Ok, so not many people probably remember queuing inside the bank for taking cash out of their accouts - but thats what we used to have to do before cash machines. So faced with charges what should we do?
You should change banks.
You could avoid getting cash out of machines. Use cashback services whereever
possible.
Shell stops you using a cheque
The numbers (From APACS - association payment clearing services)- http://www.apacs.org.uk/· At the end of April 2004, there were over 49,000 ATMs in Britain and the number continues to rise. · ATMs dispensed £144.1 billion in 2003 in 2.4 billion transactions, with an average cash withdrawal of £60. Cash machines will provide over 70% of all the cash withdrawn by people from their bank or building society accounts in 2004. 2.4 billion transactions at £1.50 a go is £3.6 Billion - thats quite a lot to be charged for getting at your own money!The trends · Higher daily allowances for cash machine withdrawals, greater convenience of their siting and wider availability of cashback, are inducing customers to shift away from using cheques and passbooks as the means by which they withdraw cash from their accounts. Means more money earnt by the banks for giving you back your cash!· The total volume of ATM withdrawals is forecast to rise to 3.0 billion in 2013. Underlying demographic trends, such as a greater preference amongst younger customers to use cash machines, are major factors behind these projections. The other substantial influence will be the introduction of automated benefit payment, which will result in many cash benefit recipients drawing cash from ATMs rather than over post office counters 3 billion transactions at £1.50
a go is £4.5 Billion |
Which banks charge you?
Who has sold off cash machines?
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