22 January 2017
visit http://www.wolterskluwerfs.com

Link members vote down Nationwide ATM resolution

26 June 2003  |  5076 views  |  0 Nationwide

Nationwide Building Society has been frustrated in its attempt to introduce a resolution to the UK's Link ATM network calling for clearer labelling of fee-charging cash machines.

Nationwide wanted all fee-charging machines to be clearly identifiable - with a sticker or prominent label - so that users can decide whether to withdraw money from them before inserting their cards.

At present, users are advised of a charge and given the opportunity to abort their withdrawal towards the end of the transaction.

Nationwide's resolution stated: "The NMC is requested to endorse the principle that all acquirers who surcharge for withdrawals should, by 1/4/04, prominently identify, by physical means, all those machines where surcharging occurs, in such a way as will be clear to a potential user BEFORE the card transaction is commenced."

The resolution was voted down by Link members.

One in four cash machines in the UK now charges customers a fee for cash withdrawals. Increasingly fee-charging machines operated by independent service providers are being installed in locations close to more traditional free cash machines in the High Street, rather than remote locations with a low footfall of users, where there are no alternative ways for people to withdraw money.

Nationwide executive director, Stuart Bernau, says: "We just can't see why Link members have rejected this out of hand - it's very disappointing. This was a real opportunity for the industry to improve transparency, help consumers and clear up some of the confusion that exists over which machines charge and which don't."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nationwide launches 'one minute' online mortgage service

Nationwide launches 'one minute' online mortgage service

24 June 2003  |  5441 views  |  0 comments
Link selects Level Four Software for Atmos

Link selects Level Four Software for Atmos

09 June 2003  |  2875 views  |  0 comments
Nationwide puts faith in WAP

Nationwide puts faith in WAP

09 June 2003  |  3703 views  |  0 comments
Cardpoint in reverse takeover of Securicor Cash Machines

Cardpoint in reverse takeover of Securicor Cash Machines

29 May 2003  |  3962 views  |  0 comments
One in four Nationwide current account customers bank online

One in four Nationwide current account customers bank online

22 May 2003  |  4341 views  |  0 comments
Nationwide hits out at convenience ATM charges

Nationwide hits out at convenience ATM charges

22 May 2003  |  3650 views  |  0 comments
Nationwide cuts payments backlog with Accurate NXG

Nationwide cuts payments backlog with Accurate NXG

19 May 2003  |  4564 views  |  0 comments
Link rolls out mobile top-ups across ATM network

Link rolls out mobile top-ups across ATM network

19 May 2003  |  4728 views  |  0 comments
Nationwide implements Level Four ATM development tools

Nationwide implements Level Four ATM development tools

12 May 2003  |  3369 views  |  0 comments
Aconite works with Link on EMV certification

Aconite works with Link on EMV certification

01 May 2003  |  3215 views  |  0 comments
TNS UK wins Cardpoint ATM deal

TNS UK wins Cardpoint ATM deal

01 May 2003  |  3620 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit contisgroup.com

Who is commenting?

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
16996 views comments | 95 tweets | 113 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
13088 views comments | 48 tweets | 45 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
11246 views comments | 31 tweets | 20 linkedin
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
8722 views comments | 48 tweets | 45 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
6726 views comments | 22 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job