'You can use all banks’ cash machines for free. Why queue?' Blog discuss

spandit

In Bangor, most of the banks are clumped together, with HSBC, LloydsTSB and Barclays within a few yards, and Nationwide, Halifax, and Abbey within 50-100 yards. It always surprises me when people are queueing for one bank when the other machines are available. The only one I would be willing to queue for is the Barclays one as it's the only one that (sometimes) gives out £5 notes.

[Deleted User]

Dont tell people that... I rather enjoy going straight to a machine with a queue besides me.

Its almost always natwest customers... hmm what does that say about people that bank with natwest

loopdeloop_2

Thanks for the info Martin.
I left the UK several years ago when there was a lot of press coverage about the fees that banks charged for using different machines so didn't know the rules had changed upon my return this year.

I_will_be_rich

If you are desperate for cash and only have a credit card, do not get cash from the hole in the wall. Go into a supermarket and purchase a few items, then ask for cash back. But remember you will still need to pay interest on the who amount!

Stompa

I_will_be_rich wrote: »

If you are desperate for cash and only have a credit card, do not get cash from the hole in the wall. Go into a supermarket and purchase a few items, then ask for cash back. But remember you will still need to pay interest on the who amount!

But you surely can't get cashback on a credit card can you?

MarkyMarkD

Indeed, you can't.

1jacks64

I seem to remember something in the media a while back where First Direct (part of HSBC) were trying to encourage it's customers to use HSBC machines so that they did not have to pay it's competitors fees as they were claiming that it was costing them lots of money.

I have not really understood why they encouraged customers to do this because if all customers just used whatever machines they wanted then surely the costs to the banks would just even out as there must be roughly the same amount of machines per bank.

[Deleted User]

Stompa wrote: »

But you surely can't get cashback on a credit card can you?

Its called a troll

RE-HSBC, Nothing Hong-kong Shanghai Bank Corp does surprises me. I heard they make regular human sacrifices to the dark lord to celebrate any change of policy :eek:... and I went yep i bet they do.

MarkyMarkD

1jacks64 wrote: »

I seem to remember something in the media a while back where First Direct (part of HSBC) were trying to encourage it's customers to use HSBC machines so that they did not have to pay it's competitors fees as they were claiming that it was costing them lots of money.

I have not really understood why they encouraged customers to do this because if all customers just used whatever machines they wanted then surely the costs to the banks would just even out as there must be roughly the same amount of machines per bank.

Because each bank whose card is used pays the bank owning the machine about 35p per transaction.

So if one million HSBC transactions are done in Halifax machines, HSBC has to pay Halifax £350,000. Not small beer at all!

Obviously you're right that if it all balanced out, no bank would pay any other anything. But it doesn't balance out, because some banks have way more ATMs in busy places than others whilst others have very localised account bases. The traditional banks with large numbers of branches in busy high streets tend to win out on this.

In particular, if you happen to have an account with a small regional building society with an ATM card, they might only have a handful of ATMs but their customers might use their cards all over the country at other banks' ATMs. That sort of institution will almost inevitably lose out on the interchange fees (which is what the 35p charge is called).

Helix

I normally queue up to use my own banks machine (Natwest) if I want a Mini Statement or to top-up my phone. The top-up situation is a bit better now though as more banks are offering it but I can't always remember which ones so I wait for the Natwest one to be on the safe side.