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Last-ditch bid to keep UK's ATMs free

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https://www.theguardian.com/money/2017/jan/24/link-atms-proposals-tabled-in-bid-to-keep-cash-machines-free

 

 

Last-ditch proposals to overhaul the way the Link cash machine network operates have been tabled in a bid to avert charges for bank customers withdrawing money at thousands of ATMs.

 

 

A number of ideas have been put forward in an effort to head off a breakup of the 70,000-strong network amid fears that if banks and building societies drop Link, thousands more machines could be forced to charge for withdrawals.

 

The proposals are to be discussed by the more than 30 members of the Link council on Thursday. The crunch meeting could decide the future of the network through which 97% of cash withdrawals are currently free.

 

 

 

Lloyds Banking Group – the network’s biggest user – sparked the review of the system . It is asking for a change in the way fees are set at in-branch and non-branch ATMs. Currently in-branch withdrawals are cheaper for the bank.

 

It will be those of us that live in rural areas where banks are closing down that will suffer - if we cannot get into a branch then we have to use the ATMs.


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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Always the way CB and with rural post offices closing even less options. As always it will disproportionally effect those least able to afford it.

My home town is losing another bank soon, the village where my mother lives has no bank and no post office for the last 12 months, the only ATM within anything other than driving distance is outside the coop.

 

BTW since when did you read such a quality newspaper 😂😂😂


Any opinion I give is from personal experience .

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Banks are getting too greedy. Theyr emaking massive profits then say its all too much. The issue i have is that how can each bank charge each other for simple access? It doesnt cost them anything to allow access at all.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

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Not necessarily sure that all high st banks make huge profits and there is a cost albeit small in letting us use others cash machines. The is the cost of the infrastructure, IT and maintenance.

 

I can not, however, disagree that their primary motive is profit


Any opinion I give is from personal experience .

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Half of the UK’s free cash machines under threat as banks demand lower transaction fees

 

 

Crunch meeting on Thursday did not reach a resolution but a working group has been set up to 'explore the sustainability' of the Link system

 

More than half of free cash machines in the UK are under threat as some banks demand reductions in the fees they pay to use other providers’ ATMs.

 

 

http://www.independent.co.uk/news/business/news/half-uk-free-cash-machines-cashless-society-banks-lower-transaction-fees-contactless-notes-a7547106.html


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2: Take back control of your finances -

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3: Feel Bullied by Creditors or Debt Collectors?

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4: Staying Calm About Debt

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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From the same article in previous post

 

Mr Delnevo said it is only "one or two" banks that are losing money on the fees they pay to ATM providers. They are now trying to recover their costs.

 

“There is a simple solution to that problem. Provide your customers with enough ATMs. If you’ve got millions of cards out there and not enough machines, people are going to use other cash machines.”

 

If banks provided enough coverage in their cash machine network, the fees they pay would not be a concern, Mr Delnevo argued, pointing out that charges for transactions have come down from more than 40p since the Link system was introduced, to less than 30p now.

 

 


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

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1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Banks, putting profits first and customers second as usual...

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welcome to business 101


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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It's funny isn't it, and I am as guilty as anyone. We moan about businesses putting profit first but endorse a capitalist system


Any opinion I give is from personal experience .

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