UK public supports Nationwide ATM sticker campaign

UK public supports Nationwide ATM sticker campaign

The overwhelming majority of people would like stickers on cash machines telling them in advance if they will be charged for making withdrawals, according to research carried out over the weekend for Nationwide Building Society.

The NOP poll shows that 95% of people would like stickers on machines to warn them of charges, rather than finding out they will be charged when they are completing the transaction.

The survey also shows that over half of all people are unaware that more machines charge for withdrawals than 3 years ago.

Stuart Bernau, executive director at Nationwide, comments: "This is a worrying statistic considering that during this period a massive 11,000 machines have been installed that charge between £1.25 and £1.50 per withdrawal. We estimate that the British public now pays nearly £6 million a month for withdrawing their own money from cash machines, without being aware until the last minute that they will face a fee."

In total 84% of people think they should not have to pay to withdraw their own money from cash machines. The under 35s have the strongest views on this with nine out of every 10 thinking they should not have to pay for withdrawals.

By contrast, older people appear slightly more accepting of charges with one in four unperturbed by the charges.

Nationwide was recently frustrated in its attempt to introduce a resolution to the UK's Link ATM network calling for clearer labelling of fee-charging cash machines. The lone campaign has since been boosted with the vocal support of the Building Societies Association and HBOS

Says Bernau: "The public's view is crystal clear from our research: consumers would prefer not to pay for withdrawing their own money. But if they must pay for convenience machines they would like to have a clear indication in advance. This seems entirely reasonable and sensible and we will ensure this issue is dealt with by Link at the next available opportunity."

Comments: (0)

THE STATE OF DIGITAL BANKING, 2019 - Landscape: The Digital Banking Strategy Playbook

Trending Stories