Consumers must be informed if a cash machine will charge them, according to Jo Swinson
Jo Swinson MP has called for clear signs to be displayed on cash machines showing consumers whether or not they will be charged for withdrawals.
Almost half the UK’s cash machines now charge a fee, typically around £1.50. Jo is supporting a new campaign to protect the free cash machine network and ensure that consumers are given the choice not to pay for accessing their money.
“I support the principle that consumers should be able to see at a glance whether or not a cash machine will charge them.
“Five years ago virtually all cash machines in the UK were free, but today almost every other machine charges a fee. According to a report by Nationwide Building Society, consumers have paid more than £175 million this year already in unnecessary charges for accessing their own money. Next year that figure will be over £250 million.
“The rapid spread of fee-charging cash machines is concerning. I will be working to ensure that a free ATM network is protected for my constituents who do not want, or cannot afford, to pay to access their cash.
“Any constituent who has found a charging cash machine without the right signs should report it to LINK on 01423 356000 or email firstname.lastname@example.org, and let me know about it.”