MSE News: MPs hit out at RBS and Lloyds over ATM access

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"Two of Britain's largest banks have been told to justify restrictions on basic account customers using rivals' ATMs ..."

Read the full story:
MPs hit out at RBS and Lloyds over ATM access

jillie1974

its a nightmare. My husband has a basic account with Lloyds. As the ATM is in the town centre over bank holidays it usually runs out of money. He can't use it to pay for his tram ticket in the machine which means always having to get the cash out before going to work.

callum9999

My God that is a nightmare! However do you cope!!!

Sorry to be so direct, but the hyperbole over this is ridiculous. If having to get money out before work is your idea of a nightmare, I am really envious of your life. And if it is so much of a nightmare, you could just get another account.

pmduk

I know what you mean, the RBS group machines in Manchester City centre are usually empty on a Sunday.

antonia1

Banks are businesses, which have to make money. Why should they provide a financial service at their own cost? If the government is worried about financial inclusion, they perhaps the government should cover the costs of free personal banking.

pmduk

There are many people who believe that the Government have spent more than enough propping up banking over the past few years.

x_Bunny_x

I got one of these because i have difficulty talking, and so it was easy to open my natwest step account online, everything was done through the post, and i didnt have to talk to anyone.

I only use mine for buying things online, and have a post office account for my benfit.

I'm sure for people who are more able bodied, they will find it easy to find a cash machine to use.

aldredd

In principle, I don't have a problem with banks restricting people to using only their own cash machines - you wouldn't subscribe to a website and expect to see articles on another site, would you? And your (mostly) free to bank with who you wish.
Although, I do think it's unfair to take it away from people already using it.

However, the justification for it doesn't reason well with me. They state it's because they have to pay a fee anytime someone uses a competitors cash machine. However, for every customer using a competitors machine, the chances are there is another competitors customer using one of their machines paying the same fee - so the logic doesn't really make sense.

I do think a lot of people don't realise how 'easy' they've got it with UK banking - very few countries allow you to operate a bank account without any fees - we had a Czech account, and had to pay everytime you made a payment, took out money, paid IN money etc - it was the norm!

jackjones01

Its really easy if you don't like it bank elsewhere.

bengal-stripe

aldredd wrote: »

However, for every customer using a competitors machine, the chances are there is another competitors customer using one of their machines paying the same fee.......

Exactly - it's all swings and roundabouts!

dzug1

aldredd wrote: »

. However, for every customer using a competitors machine, the chances are there is another competitors customer using one of their machines paying the same fee - so the logic doesn't really make sense.
!

But it isn't a question of chance - it's a question of statistics, so I suspect that they have worked out that they are losing. If they were gaining they'd have kept quiet about it.