ATM Fees

[ranger]

I was reading a article the other day about how banks are selling of lots of their ATM's to seperate companies that make a profit from charging a transaction fee on withdrawasl and wondered how you all feel about this.

My own personal view is that I won't use a ATM that charges a fee as it only encourages the bank to sell even more of the ATM's, in fact when the banks/building societies tried to bring these charges in a few years back I changed my long standing bank account to the Nationwide as they supported fee free ATM's. It now seems the Banks are now getting these charges brought in stealthily without the bad publicity to them, whats your views?

[ranger]

oops! what did I do wrong on the poll, and can I fix it?

in my defence haven't used poll before

[scuzzman]

oops! what did I do wrong on the poll, and can I fix it?

in my defence haven't used poll before

A mod will need to change it...

[andsome]

Personally I will NEVER agree to pay a charge to withdraw my own money. The banks make obscene profits as it is. I usually get my cash from the supermarket checkout as cash back.

[-pops-]

oops! what did I do wrong on the poll, and can I fix it?

in my defence haven't used poll before

OK?

I've put an extra category in "Sometimes" as it's what I do.

I mainly get my cash from the cashback facility when I'm shopping, like andsome. Have to admit, though, I don't use much cash these days.

[andsome]

oops! what did I do wrong on the poll, and can I fix it?

in my defence haven't used poll before

OK?

I've put an extra category in "Sometimes" as it's what I do.

I mainly get my cash from the cashback facility when I'm shopping, like andsome. Have to admit, though, I don't use much cash these days.

I mainly use credit card, and than settle up in full each month to avoid paying a bank any money at all.

[Sir T Fireball]

Mostly cover my spending by standing orders, direct debits or by credit card which is paid in full each month. So many ATM machines are being targetted by crooks these days anyway, that they are not safe to use even if free!

[-pops-]

So many ATM machines are being targetted by crooks these days anyway, that they are not safe to use even if free!

Very good point there, Sir T.

[Sir Radfordin]

The only time I used cash is when buying a couple of drinks in the pub or very very occasionally to buy a pint of milk. Rest of the time it is onto a credit card paid off in full by direct debit each month.

I see no point in paying for MY money. I'm all for making use of the banks whilst getting a 'free' service. Paying to get my money back from them is very wrong.

[don't ask]

I said 'in emergency only'. I strongly disagree at having to pay money to get at my own money.

I personally don't like using ATMs - poorly sighted folks like me feel they are being watched and targetted as I have to do a lot of fumbling and peering and it makes me feel vulnerable (as does the chip and pin stuff, but that is another story).

[bvw]

Mostly cover my spending by standing orders, direct debits or by credit card which is paid in full each month. So many ATM machines are being targetted by crooks these days anyway, that they are not safe to use even if free!

Same here.

[popeye]

I'm the same as most here, Direct Debit, Standing Orders & Credit Card.

My Credit Card is paid by Cheque so I rarely use cash at all.

[lester1]

I use my banks free ATM machines each week, whilst like the rest of you I pay by direct debt etc I find that certain transactions can only be made in cash!

I would be interesting to find out how you cash less people would pay for, a sandwich from the deli, toll fees (tunnel), pint or two at the local,syndicate lottery money etc

And of course the kids/grandchildrens little treats/pocket money :D

[deuces wild]

I have been in Chicago over the past few days. The parking garage I used accepted only cash and I did not carry enough to pay the $60 parking fee and have money left for incidentals, tolls, tips and meals. I had to run into an office building next door and use an ATM that charged me $2 for a withdrawal of $100.

Although I generally refuse to pay a fee to withdraw *my* money, sometimes you have no choice and have to bite the bullet.

Those of you who voted "never" have most likely never been in a situation where you needed additional cash right then and there.

[djohn]

Yep! like most of you, I cover my expenses by C.C or Debit card, other items by direct debit/standing order. Unfortunately its the less well off people, those that can ill afford the fee that this idea is hitting.

ATM's at Supermarkets, outside Banks etc. do not charge, they would not dare try this on with their customers. Its the areas that the Banks will not provide an ATM because they are not profitable that have these new slim-line, sometimes stand-alone link machines that are charging a fee.

Local shops, small mini-markets and some filling stations now have these installed and it is the people who do not have a car or are on a low income, benefits etc, that are having to pay to get at their already low income. :(

[deuces wild]

Yep! like most of you, I cover my expenses by C.C or Debit card, other items by direct debit/standing order. Unfortunately its the less well off people, those that can ill afford the fee that this idea is hitting.

In the US banks charge you for ATM transactions if you are not a customer of theirs. You certainly do not have to be poor to incur these fees.

[djohn]

They tried that here in the U.K a couple of years back deuces. There was such an outcry about it that it was dropped in a matter of weeks.

The machines I'm referring to though are these new(ish) small cash machines owned and run by independent companies. They charge a percentage on how much you withdraw but a minimum fee of £2.00 [Two British pounds].

I was caught out with one of these for the first and last time early last year. I called into my local filling station late at night and filled up with £60 of petrol, paid with my card as normal, but forgot I wanted a litre of milk and a loaf of bread. I wasn't going to use my card again for such a small amount and saw the machine out of the corner of my eye over the other side of the store.

Inserted my Debit card for £10 to pay for the two items and leave a few pounds in my pocket as loose change. I was charged the minimum fee of £2.00. I was furious, called my bank the following day, they agreed and credited my account with the money for what they also agreed was an outrageous charge. :angry:

Some people though have no choice if they have not drawn enough money from their basic Bank account during the day and need to use these machines late at night or the weekend. Like I said above, these are the very people who can least afford it. :(

[catgate]

What no one has so far recognised in this post is that the money belongs to the banks and they have for years allowed us to use it free of charge. It is minted by the government, who take taxes from you to pay for its production (and for other nefarious purposes) and it is then given to the banks in exchange for "favours received". The banks then let us use it in order to make more profit for them. They are currently making so little profit that they are having to charge us for using it. Simple as that.

[andsome]

HSBC has just posted RECORD profits.

[deuces wild]

What no one has so far recognised in this post is that the money belongs to the banks and they have for years allowed us to use it free of charge. It is minted by the government, who take taxes from you to pay for its production (and for other nefarious purposes) and it is then given to the banks in exchange for "favours received". The banks then let us use it in order to make more profit for them.  They are currently making so little profit that they are having to charge us for using it.  Simple as that.

Hmmm...how does my money belong to the bank? Please explain that. :blink:

[djohn]

Don't worry deuces, catgate has an unusual view on life. :wacko:

[-pops-]

Remember when you are using a supermarket owned ATM or getting cash back at the supermarket till, it isn't they who are doing YOU the favour, rather the other way round.

By taking cash from them in this way we are relieving them of the burden of storing large amounts of "real" money on their premises.

[deuces wild]

ATM's also reduce the number of tellers at banks, thus saving them payroll. While a convenience for us, it is also a savings for the banks.

BTW: Are people working behind the counter in UK banks called tellers?

[-pops-]

BTW:  Are people working behind the counter in UK banks called tellers?

Not normally, bank clerks or something like that. A junior at my local bank branch describes herself as a banking customer service advisor even though her main job is taking in and handing out cash and cheques at the counter.

[Sir T Fireball]

BTW:  Are people working behind the counter in UK banks called tellers?

The young lady in my bank is called Sarah :) Very pretty young thing she is too :wub: