News

UK fight over ATM charges heats up

January 24, 2005

The Guardian: Senior officials from the United Kingdom Post Office face a grilling by the Treasury select committee of MPs next month over charges levied at cash machines situated at post offices and their compatibility with the government's aim to tackle financial exclusion.

The executives are being called before the committee as part of its investigation into cash machine charges.

According to the Post Office, there are 2,500 cash machines at Post Offices throughout the UK. Some 1,850 of these already a charge a fee for withdrawals of £1.50 or less.

John McFall, who chairs the MP committee, told the Guardian the committee wanted to look at how the government's principles on financial exclusion are being "adhered to and upheld."

The number of Post Office-based cash machines, run by Alliance & Leicester and a handful of other cash machine providers, has risen from 160 four years ago. The Post Office argues that the machines offer choice to customers and bring in revenue from the rental fees charged to the providers.