Thread: Would you pay to get your cash?
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Old 16-11-2004, 17:39   #16
SMHarman
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Re: Would you pay to get your cash?
Someday we will have to start paying for our banking again. We are in the curious position in this country that we have free personal banking, something virtually nowhere else in the world has. Effectivly personal banking is cross subsidised by other products, but when you think the average small business account charges 20p to pay something in 40p to write a cheque and 25p to make an electronic payment or withdrawal then you can add up how much the bank thinks your account costs to run.

ATM fees, well there is a cost to runnign the network, but £1 + a transaction I don't think so. What this could well lead to is people withdrawing more cash each time and a greater risk of muggings though.
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