19 April 2018
visit www.ebaday.com

Link bows to pressure on cash machine charges

31 July 2003  |  4538 views  |  0 Link bows to pressure on cash machine charges

The UK's Link interchange ATM network has bowed to pressure and agreed a recommendation that cash machine operators must post advance warnings to consumers of withdrawal charges.

Confirmation of the proposal follows a meeting of the Link Card Scheme Development Committee (CSDC) yesterday. The CSDC has agreed to recommend to the Network Members' Council (NMC) that fee-charging machines post a clearly visible notice either on the machine or on-screen prior to card insertion bearing the message: "This machine may charge you for Link cash withdrawals".

The exact mechanism for posting messages will be agreed at the next meeting of the NMC in August with implementation no later than 1 April 2004.

The decision has been hailed as a "victory for consumers" by Nationwide Building Society, which has mounted a vigorous campaign against the charges imposed by independent network operators. Nationwide says that approximately a quarter of the machines in the Link network, or 11,000 units, charge a fee of between £1.25 and £1.50 for cash withdrawals.

Welcoming the move, Nationwide executive director Stuart Bernau adds: "There has been no final decision on how consumers will be warned about charges - a sticker or a message on the screen before the card is inserted. We favour an early warning sticker and will continue to campaign for this."

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

UK public supports Nationwide ATM sticker campaign

UK public supports Nationwide ATM sticker campaign

22 July 2003  |  3893 views  |  0 comments
Building Societies Association and HBOS back Nationwide ATM campaign

Building Societies Association and HBOS back Nationwide ATM campaign

21 July 2003  |  5476 views  |  0 comments
Link members vote down Nationwide ATM resolution

Link members vote down Nationwide ATM resolution

26 June 2003  |  5529 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
https://www.capgemini.comVisit http://wup.digitalVisit https://aciworldwide.webex.com

Top topics

Most viewed Most shared
hands typing furiouslyArtificial Intelligence for fraud detectio...
12157 views 0 | 10 tweets | 6 linkedin
Speculative interest in cryptocurrencies may have peaked - BarclaysSpeculative interest in cryptocurrencies m...
10599 views comments | 16 tweets | 11 linkedin
Competing in an increasingly competitive spaceCompeting in an increasingly competitive s...
9805 views comments | 1 tweets | 2 linkedin
Starling chief slams Treasury over RBS fund allocationStarling chief slams Treasury over RBS fun...
9045 views comments | 4 tweets | 10 linkedin

Featured job

(GBP Equivalent) Six-Figure Base + OTE + Benefits
New York City, NY - USA

Find your next job