24 March 2005
The National Consumer Council has urged ATM providers to provide better transaction deals following continued complaints about the prices charged.
Fee-charging cash machines now make up more than 40 per cent of the market and the council has suggested that the arising situation is unacceptable.
The NNC wants clearer charge labelling and a mapping exercise across providers to ascertain areas most affected by charges.
Philip Cullum, deputy chief executive at the NCC, commented: "Our research shows that people on limited incomes prefer to manage their money on a daily basis, and so make frequent, small withdrawals.
"At a fee-charging ATM, a single withdrawal costs, on average, £1.50. This means consumers withdrawing £50 per week in five £10 withdrawals would pay over £30 a month in ATM fees."
The NCC's statement comes one week before the release of a report on cash machine charges by the Treasury Select Committee.
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