Would you pay to get your cash?

[Salu]

Daily mail have the following report suggesting that banks may be trying to globally charge for getting cash from ATMs.

http://www.dailymail.co.uk/pages/liv...e_id=1770&ct=5

Is it justified to charge you for retrieving cash from a competitor's cash machine? If so, what is an acceptable charge? Or is it a con and designed to line the pockets of the banks with your cash..

Should we charge them for depositing our money??

I think it should remain free, or at least a 20p nominal fee etc.

What do you think?

[swoop101]

It is a total con, they make obscene profits without ripping us off with this as well.

[Dave Stones]

not a chance... if they do that i will go back to the days of writing a cheque out to "cash" and taking it to the counter at the bank...

I think if the banks started charging to use ATM's then people would look at alternatives like 'cash back' at the supermarket - I know I would. Seeing as the checkout operators are seemingly trained to ask everyone who uses a card to pay, if they would like 'cash back', this can't be detrimental to them. In fact I would imagine as it reduces the amount of cash they have to put through their bank, it probably reduces their costs.

[Ramrod]

I would only pay if I had no other means of easily getting hold of cash.....

[Graham F]

why do we need cash? surely now a days everything should go onto plastic?!? i very rarely go to a cashpoint to get cash, cash back in the pub maybe for a night out but thats abt it, all the rest of the time its plastic

[ian@huth]

Originally Posted by homealone

I think if the banks started charging to use ATM's then people would look at alternatives like 'cash back' at the supermarket - I know I would. Seeing as the checkout operators are seemingly trained to ask everyone who uses a card to pay, if they would like 'cash back', this can't be detrimental to them. In fact I would imagine as it reduces the amount of cash they have to put through their bank, it probably reduces their costs.

Banks used to charge for withdrawing cash from ATMs of other banks but I thought that had all stopped now. I think that I could count the number of times I have used an ATM on the fingers of one hand, usually using the cash back using Switch at the supermarket.

Businesses are charged by the banks for paying cash in so cash back reduces these costs as well as reducing the amount of money held in the tills, cash office or in transit to the bank.

No I wouldn't pay to get my own money out of the bank.

Total scam, and totally disgusting

[Kliro]

If its a competitors cash machine then I suppose they can justify a small fee, maybe relevent to the amount in your account to a maximum of £1?

But if the bank I was with tryed to charge to use one of their machines I wouldnt be happy.

[Graham F]

Originally Posted by Kliro

If its a competitors cash machine then I suppose they can justify a small fee, maybe relevent to the amount in your account to a maximum of £1?

But if the bank I was with tryed to charge to use one of their machines I wouldnt be happy.

What could you do though if theyall start to do it?

I stopped using ATM's for cash a long while ago - I use my local Safeway (soon to be Morrisons )

[Graham F]

Originally Posted by Paul M

I stopped using ATM's for cash a long while ago - I use my local Safeway (soon to be Morrisons )

but if everyone started to do that they would run out of cash wouldn't they?!? then because of the greater demand and the fact more cash is being paid out in cash back than they are taking they would start to charge for the cashback use?!?

[etccarmageddon]

switch to the www.nationwide.co.uk - they are the ones fighting the rip offs that the banks are forever trying to inflict on the consumer - it was them that stood up to barclays 4 years ago when barclays tried to impose charges without approval of link.

Originally Posted by Scooby

but if everyone started to do that they would run out of cash wouldn't they?!? then because of the greater demand and the fact more cash is being paid out in cash back than they are taking they would start to charge for the cashback use?!?

Every man and his dog offers cashback these days, off the top of my head I can think of over 10 shops within 1 - 2 miles of me.

[ian@huth]

Originally Posted by Scooby

but if everyone started to do that they would run out of cash wouldn't they?!? then because of the greater demand and the fact more cash is being paid out in cash back than they are taking they would start to charge for the cashback use?!?

They will only give cash back if they have the cash in the till to give. They would love it if there was virtually no cash there at the end of the day.

The supermarket is good for £150 cash back if you get £50 at the till, £50 at the tobacco counter (buy something other than a tobacco product if you don't smoke) and £50 at the garage.