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Andrew StunellWorking hard for Bredbury, Compstall, Great Moor, Hawk Green, Hazel Grove, Heaviley, High Lane, Marple, Marple Bridge, Mellor, Offerton, Romiley, Rose Hill, Strines & Woodley since 1997 |
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Stockport residents charged £1 million to use their own cash!
November 22, 2005 10:40 AM
Andrew campaigning to protect the free ATM network
Local MP, Andrew Stunell is calling for cash machines to be colour coded with clear signs so people can see at a glance whether or not they will be charged for transactions. Almost half the UK's cash machines now charge a fee, typically around £1.50.
Mr Stunell, who is campaigning to protect the free cash machine network, said:
"Stockport residents are being charged £1 million a year to use their own money!
"People should be able to see at a glance whether or not a cash machine will charge them. I believe we need clear 'traffic lights' - green signs for free machines, and red signs for machines that charge you.
"Five years ago nearly all cash machines in the UK were free, but today nearly half the UK's cash machines charge a fee. People have paid more than £175 million this year already in unnecessary charges for accessing their own money, and next year will pay over £250 million countywide - £1 million in Stockport alone.
"I am working to ensure that a free cash machine network is protected for my constituents who do not want, or cannot afford, to pay to access their cash.
"Anyone who has found a charging cash machine without the right signs should report it to LINK on 01423 356000 or email linkinfo@link.co.uk, and let me know about it." ENDS
Notes to editors:
1. For a photograph of Andrew Stunell campaigning to protect the free ATM network, please call Jane Allen, 0207 2195223.
2. Research carried out for Nationwide Building Society in August 2005 among 1001 respondents showed that:
• 93% of British adults think that it is unacceptable to be charged to withdraw their own money from cash machines;
• 97% of people think that all cash machines should bear either a red or green sign to make it clear at a glance whether or not they charge.
(Source: Marketing Sciences for Nationwide Building Society)
3. LINK figures show that at end September 2005 there were 23,931 charging ATMs and 32,355 free ATMs, compared with end September 2004 when there were 20,685 charging and 32,463 free. This gives an increase in the number of charging machines of 16% compared with a decrease of 108 (0.33%) in the number of free machines.
4. Nationwide Building Society and HBOS have both announced a roll-out of standardised signage for their cash machines and called on the rest of the industry to follow suit.
5. Nationwide's special report, The Increasing Threat to Free Cash Machine Withdrawals, is available online at http://www.nationwide.co.uk/mediacentre/pdf/ATM_Report_121105.pdf
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