Dundee LibDems condemn ATM charges costing Scots a million a month
October 24, 2006 6:19 PM
Raymond Lawrie condemns ATM charges costing Scots a million a month
Dundee Liberal Democrat local party Convener, Raymond Lawrie said today (Tuesday 24th October) that he is "shocked but not very surprised" to learn that Scots are paying more than £1m a month to withdraw their own money from fee-charging cash machines. This is an increase of 25% in less than nine months.
"I have expressed my concerns on these charges many times in the past," said Raymond. "As recently as 1999, virtually all ATMs were free, so these charges seem to be just another way for the banks to make money."
Raymond pointed out that the number of charging ATMs is now at record levels, making up more than one-third of the total machines in Scotland. Less than five years ago, less than one in every five machines would charge. The situation has been made worse by some banks closing branches. Others have sold their cash machines to companies that charge for withdrawals. Generating income from the charges which are the equivalent of £23.50 a minute.
"These ATMs are hitting less affluent areas the hardest," Raymond said. "If you are living on benefits or a low income an average charge of £1.50 to withdraw your cash is going to hit you very hard indeed."
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