MP attacks ATM charges as 'cynical exploitation' of public
Tuesday 26 October 2004
A Travelex cash machine in London's Leicester Square will tomorrow be condemned by a backbench MP as an example of "cynical exploitation" of the public.
James Plaskitt, the Labour MP for Warwick and Leamington and a member of the House of Commons Treasury Select Committee, will make the allegation when he opens what will be the first debate in the House of Commons on cash machines that charge the public.
In 2000 the main banks agreed not to add charges to withdrawals from cash machines, otherwise known as automated teller machines (ATMs). Since then, private operators have sprung up, installing their own machines in locations away from bank branches, such as supermarkets and petrol stations.
These typically charge £1.50, however little cash is withdrawn, and are seen as being unfavourable to poor people. The machines are supposed to have clear notices stating that there will be a charge.
Mr Plaskitt will say: "I wonder why there is so much argument about slot machines and casinos when there are already 20,000 one-armed bandits on the high street. Charges can account for a significant percentage of the cash withdrawn. The hole in the wall is also the hole in your pocket."
He is accusing some operators of flouting voluntary codes on ATM signage and will cite as an example an ATM belonging to the foreign currency group Travelex in Leicester Square. He claims it gives no prior warning of a charge for cash withdrawals.
Mr Plaskitt believes the current voluntary code overseen by the Link network is not working because of the vested interest of the major banks, and is calling on the Department of Trade and Industry to enforce proper transparency, including the use of clear external signs.
A spokesman for Travelex said: "Every Travelex ATM gives customers the option of proceeding with the transaction after informing them of the charge on screen. The Leicester Square machine has a small label on the right-hand side warning of the charge."
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 3 Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
- 4 Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
- 5 Grumpy Roald Dahl letter warning student to 'eschew beastly adjectives' rediscovered after 35 years
King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...