Cash point charges

I have been noticing all the atm that were free are charging now days. Even the one outside Tesco is now charging… How is that possible… I thought all this was stopped and all cash points were free from my memories

No. They can charge and an ever increasing amount do. It’s a massive cost to the banks and the private companies need to make money from it somehow too. P

Then how come it was all stopped and all atms were free. Most atms around my area charge me 1.75 to withdraw my own money

I don’t remember it ever being the case that all ATMs were free at any one point in the past. I remember there was a time when most banks would charge you if you used an ATM that wasn’t one of theirs to withdraw your money, but that’s not quite the same thing - indeed, this could sometimes end up being in addition to a charge to use the ATM!

An episode of Joe Lycett’s Got Your Back just a few weeks ago covered the issue of ATM charges by highlighting a Welsh village where inhabitants now have to take a long round trip in order to get to a free ATM.

1 Like

As I am saying the atms that I use to withdraw cash were free near my house… Now all of them are charging…

That’s never happened to my knowledge. There have been various charging regimes in place over the last few decades but there’s never been a point where all ATMs were guaranteed to be free for everyone.

2 Likes

There’s always been charges about just depends on the provider, location etc. You’ll find the main backs ATMs are free whereas you could go to one at a petrol station or supermarket to find they incur a charge for taking out money

As more and more people pay with contactless, fewer are withdrawing cash, and so the machine operators are not getting the fees that banks pay when you use a machine.

More and more ATMs are becoming uneconomic and so are levying fees leading to more paying contactless and so a vicious circle develops. Covid 19 has not helped as people don’t want to handle cash or use ATMs (some look really unhygienic at normal times).

A lot of banks let you withdraw for free from the Post Office, could that help you?

1 Like

I think they’re referring to when Link made most withdrawals free to the user. Before that, there were bilateral agreements between banks - but no broad UK-wide system of free ATMs for customers of almost any bank. Currently 97% of Link transactions are free.

I think maybe the OP is noticing a growth in non-Link, private ATMs? They’ve always charged a fee (and £1.75 is at the low end).

Part of the reason I avoid using cash where possible these days!!

You can, if you want, now go to Link and request that they investigate placing a cash machine in your neighbourhood if there are no free one available.

https://www.link.co.uk/consumers/request-access-to-cash/request-an-atm/

I’m not sure how successful these requests are and if, whenever people apply, they’re told either that there is already free machines nearby to use or if there’s something that makes it impossible to get one (no-where to place it securely?) but if it really is a problem in your area (ie - every cash machine charges within walking distance) it might be worth a shot.

Also, to bring it back to Monzo - Monzo is not part of Link so there would be no guarantee even if Link got a machine in the area, that it’ll work with Monzo (in fact, the shop across the road from me has a Link machine in it which doesn’t charge and I can’t use it :frowning:).

If the OP has a different account and wants cash from that then this would be a good suggestion, however Monzo aren’t part of LINK so their machines will sadly not accept a Monzo card :-1:

Yes…which is kinda what I said? “Also, to bring it back to Monzo - Monzo is not part of Link so there would be no guarantee even if Link got a machine in the area, that it’ll work with Monzo (in fact, the shop across the road from me has a Link machine in it which doesn’t charge and I can’t use it :frowning:).”

To completely clarify this, the cash machines need to accept Mastercard as well as Link.

1 Like

My village has no ATM but a post office.

I have starling for this reason if I really need cash and don’t wish to drive to town. (Starling are not part of link but allow post office cash withdrawals)

The only shop and pub in the village take cards so I pretty much never use it. (I’ve not taken out cash since last year apart from getting cashback from a morrisons self checkout for the barbers)

It’s to slowly stop cash and enter a cashless society…

I avoid using cash for it being a pain.

I’m not too bothered about the whole cashless society thing the whole privacy thing you need to remember is just don’t use one of the big banks.
Crypto still exists and is a likely replacement for cash.

Once one of the crypto coins gets regulated we’ll all be changing then I guess.