News

Link warns two ATM companies for not complying with fee rules

July 6, 2006

NORTH YORKSHIRE, England - Travelex and TRM Corp., two of the United Kingdom's biggest cash-machine operators, could have their ATMs cut from the Link Interchange Network Ltd. if they don't bring them into compliance. Link, which last year introduced new rules for notifying consumers of foreign-use fees, said in a news release that Travelex and TRM have 10 days to make necessary changes.

Travelex owns and operates 1,200 ATMs in the U.K.; TRM has 4,000.

Link rules require all charging cash machines have at least three warnings - on the outside of the machine, on the screen before the card is inserted and again before the transaction is completed. Fines of £250 (U.S. $436) will be levied for each machine lacking one or more of the advance warnings, Link said.

Link's ATM Scheme found eight Travelex and two TRM machines out of compliance.

"The Link ATM Scheme is committed to full transparency of charges at cash machines that surcharge," Link ATM Scheme director Edwin Latter said. "Link members have made considerable effort to bring their cash machines into compliance with the rules introduced by the scheme in July 2005. LINK will continue to police and enforce compliance with these rules."

In addition to enforcing rule compliance, scheme members are conducting a separate, independent survey to measure the effectiveness of Link's rules, which have now been in force for nine months. The scheme then will consider how best to develop Link's rules to ensure fee transparency.

Read also, Office of Fair Trading reports Link's ATM innovations.