£12m Christmas Costs of Fee ATMs
Research by Sainsbury's estimates fee-charging ATMs will cost consumers £12m over festive season
13th December 2005
Sainsbury's Bank have warned their customers to be on the lookout for charges when using cash machines over the festive period.
The bank estimates that up to 9.4 million transactions in December will result in a charge, adding up to around £12m in costs which may well be unneccessary.
The number of fee-charging ATMs has mushroomed in recent years, and they now account for around a third of cash machines, most commonly in 'convenience' locations such as shops.
Recent changes in the regulations governing the industry have tried to make it clearer to customers when they are about to be charged, but many consumers are still not fully aware that fee-free alternative ATMs are often available close by.
Read More: Sainsbury's: Consumers charged £12 million for withdrawing their own money
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