Government Backs Fee-charging Cash Machines
Government statement says fee-charging ATMs increase choice
19th July 2005
The government has supported the fee-charging cash machine industry in a statement responding the Treasury select committee's investigation into the sector.
The statement said that in cases where charging machines were placed next to free ones, people had the option of paying for a withdrawal or queuing up - an example of the market working as it should, it says.
The government also said that the network of free machines was not under threat, and that major banks were in fact building the network by 3% a year, often installing machines in locations away from branches. They added that they would be keeping a close eye on future developments to ensure that no 'public policy concerns' resulted from any lack of free machines.
The statement comes after recent changes in the way fee-charging ATMs must inform customers of the charges.
Read More: Money Guardian
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