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British MPs express continued concern over ATM fees

October 17, 2004

Times Online: MPs will use a meeting of the Commons Treasury Select Committee this week to question bank chiefs about the rapid growth of fee-charging ATMs. The UK officials fear that growth in commercial money dispensers - which rose by more than 50 percent in 2003 - means that consumers will soon have little choice but to pay if they want to make an ATM withdrawal.

Angela Eagle, a member of the committee and Labour MP for Wallasey, said: "At this rate, there will come a time where there will not be any non-fee-charging cash dispensers left and we will hold the banks accountable for this."

The fee-charging machines, which are operated by companies such as Moneybox and Cardpoint, have targeted isolated rural areas where banks have withdrawn services.

Norman Lamb, a member of the committee and Liberal Democrat MP for Norfolk North, has called for a code of practice governing the ATM market. Mr Lamb said: "Banks are selling off these machines to commercial providers at a profit and they should take steps to ensure there are clear rules dictating the information disclosed to customers using these machines."

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