Reply to post:

ATM fees shake-up may push Britain towards cashless society

Tom 38

The benefits go to you. Your bank has to pay for your access to ATMs that do not belong to it, and the LINK network sets out various interbank charges that apply for various services.

Ever used a non bank ATM, and found it is hard to get cash out without also seeing your balance at some point? The operator of the ATM receives something like 75p for each balance statement, which is sufficient to make these ATMs quite profitable, leading to every newsagents having one of these shitty ATMs inside.

The aim of these charges was to make it promote ATMs in rural/remote areas, but has actually lead to an increase of ATMs in built up areas where there is already adequate supply. By reducing the interbank charges it makes these ATMs less profitable and will reduce both the number of ATMs in high density areas, and the cost to banks for servicing their clients cash needs.

You would hope they will also replace the higher charges for subsidies for ATMs in rural/low ATM density areas.

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