Fee charging ATMs rise in number
(25 January 2006)

Fee-charging ATMs will overtake free ones in number by October of next year, a study by Sainsbury's Bank has predicted.

The bank noted that, between June 2004 and June 2005, 286 fee-charging ATMs were installed each month – with only 53 free services being installed in similar periods.

If this rate was to continue, October 2007 would see 33,821 charging ATMs in the UK and only 33,718 which incur no cost.

Chief executive Tim Pile said: "We are deeply concerned about the dramatic increase in the number of surcharging ATMs and the very real threat that they will soon outnumber the free-to-use machines.

"We believe that it is fundamentally unfair to make consumers pay for using an ATM to access their own money, and we urge all consumers to make sure they know whether or not the ATM they plan to use charges for making withdrawals."

With many of these fee-charging ATMs cropping up in remote areas where provisions for money withdrawal are few, it may be that you find yourself being charged for even the smallest transaction that you make.

Bearing this in mind, a payday loan could prove better value for money if you need some cash in hand and don't want to eat into your savings or make frequent trips to a cash machine to tide you over.

With your loan of between £80 and £1,000 carrying a one-off charge which is repayable on your payday, you'll know where you stand and won't find your account being eaten into in unwelcome, niggly fashion.



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