News

British building societies express concern over growth of ATM fees

December 7, 2004

The Telegraph: ATMs that charge customers to withdraw cash should be more clearly labeled, building societies said. In a submission to the Treasury Select Committee, the Building Societies Association called for greater notification of the charges.

According to the BSA, 18,000 ATMs that charge have appeared over the past five years, while the number of free ATMs has grown by only 8,000. Machines that charge for withdrawals now account for 40 percent of the 53,000-machine Link network.

The BSA said that no building societies charge for cash withdrawals.

The Treasury Select Committee has scheduled a hearing on the matter for Dec 21.

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