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Roundtable says U.K. ATM industry should involve consumer groups

May 3, 2006

WORTHING, England - U.K. Treasury Minister Ivan Lewis and the Link Interchange Network Ltd. agreed May 4 that the public should be involved in the debate over ATM-fee transparency in the United Kingdom.

A roundtable organized by the Treasury concluded that growth in ATM placements is good for the economy, especially in areas where cash machines did not previously exist. Link and its members said they want to work with consumer groups and the government to discuss how access to free cash withdrawals can be improved, especially in deprived areas.

"We welcome the beginning of this constructive debate, with all parties working to help the initiatives being developed and implemented by the industry to further widen access to free-of-charge cash withdrawals, and to ensure full and effective transparency in cases where charges are applied," ATM Scheme director Edwin Latter said.

The group said clearer and more standardized warnings on the screens makes more sense than further investments in stickers on ATM enclosures that warn of fees.

The roundtable is expected to establish a working group to deal with all of those issues.

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