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  • FIRST POST
    • MSE Guy
    • By MSE Guy 28th Jun 10, 8:22 AM
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    MSE Guy
    MSE News: 5-only cash machines launched
    • #1
    • 28th Jun 10, 8:22 AM
    MSE News: 5-only cash machines launched 28th Jun 10 at 8:22 AM
    This is the discussion thread for the following MSE News Story:

    Read the full story:

    5-only cash machines launched

Page 1
    • Jimmyc
    • By Jimmyc 28th Jun 10, 8:33 AM
    • 149 Posts
    • 37 Thanks
    Jimmyc
    • #2
    • 28th Jun 10, 8:33 AM
    • #2
    • 28th Jun 10, 8:33 AM
    Seems a good idea to include 5 notes in ATM's but don't see why it should only be 5. If somebody withdraws 300 thats a 60 notes it will dispense, it will be empty in no time.
    • bylromarha
    • By bylromarha 28th Jun 10, 8:52 AM
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    bylromarha
    • #3
    • 28th Jun 10, 8:52 AM
    • #3
    • 28th Jun 10, 8:52 AM
    Interesting idea.

    I know if I break 10 and the change is in coins it takes me less time to spend the coins than if it were a note.

    Psychologically I can see the benefits of this machine!
    Who made hogs and dogs and frogs?
    • PROLIANT
    • By PROLIANT 28th Jun 10, 8:53 AM
    • 6,045 Posts
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    PROLIANT
    • #4
    • 28th Jun 10, 8:53 AM
    • #4
    • 28th Jun 10, 8:53 AM
    Great idea, however Lloyds Bank has been doing this for years and I am sure they still do.

    The Lloyds ATM's in Newcastle upon Tyne at the Haymarket and Grey St always used to allow you to take 5 form your account - not just limited to Lloyd’s accounts either, as it was on the Link network you could use any card.

    It will help people budget, for example lets say you run out of smokes on a Sunday afternoon and Tesco is closed you only have a tenner in your account but you also have a small direct debit coming out on Monday for lets say 3.

    As most convenience stores charge for credit/debit card transactions you do not want to pay 75p on you 10 Lambert so being able to withdraw 5 you can avoid a bounced DD charge and avoid a 75p rip for the privilege of paying electronically.



    Win win.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
    • plumber2009
    • By plumber2009 28th Jun 10, 9:25 AM
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    plumber2009
    • #5
    • 28th Jun 10, 9:25 AM
    • #5
    • 28th Jun 10, 9:25 AM
    Its about time.
    I do volunteer work in a charity shop and the sheer number of people who want to pay for a 1 item and hand over a 20 pound note is so frustrating. Its also vitually impossibe to get change from the banks also as they are preventing people from using the counters to get cash. We have to go to an arcade to get change and the owners get very annoyed sometimes.

    The banks need to drastically increase the number of 5 notes in circulation and i would go further and introduce more 10 notes also. These notes are like gold dust.
  • zppp
    • #6
    • 28th Jun 10, 9:45 AM
    • #6
    • 28th Jun 10, 9:45 AM
    The banks need to drastically increase the number of 5 notes in circulation and i would go further and introduce more 10 notes also. These notes are like gold dust.
    Originally posted by plumber2009
    Agreed. And most of the 5 notes in circulation are manky, as they have been overused. According to the article, the Bank of England are trying to increase the circulation, I say good for them!
    Best Regards

    zppp

    • Biggles
    • By Biggles 28th Jun 10, 9:50 AM
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    Biggles
    • #7
    • 28th Jun 10, 9:50 AM
    • #7
    • 28th Jun 10, 9:50 AM
    And most of the 5 notes in circulation are manky, as they have been overused.
    Originally posted by zppp
    Time we had a 5 coin anway, the 5 note must already be worth far less in real terms than the 1 was when that was replaced by the coin.
    • edgex
    • By edgex 28th Jun 10, 10:36 AM
    • 3,316 Posts
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    edgex
    • #8
    • 28th Jun 10, 10:36 AM
    • #8
    • 28th Jun 10, 10:36 AM
    i used a HSBC machine a few weeks ago & had 2 5s instead of a 10

    maybe they just need to change half of the 10s in a cash machine into 5s
    • Arthurian
    • By Arthurian 28th Jun 10, 10:40 AM
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    Arthurian
    • #9
    • 28th Jun 10, 10:40 AM
    • #9
    • 28th Jun 10, 10:40 AM
    My elderly mother's eyes light up when she is given a 5 note. When in town, she'll never hand over a fiver, but try to get one in her change, because she needs them for the rest of the week, to pay (or part-pay) the window-cleaner, the gardener, the mobile hairdresser, etc. Agree with previous posters, they are like gold dust.
    • elektra-2007
    • By elektra-2007 28th Jun 10, 10:42 AM
    • 608 Posts
    • 356 Thanks
    elektra-2007
    Brilliant, I hardly ever have 5 notes always coins which bulk up my purse! When anybody needs change of a 10 its nearly always in coins. I would much rather get 10's and 5's out of a machine, it should have the option for the user to choose the denominations.
  • ultrawomble
    I bet that these 5 machines are the pay-to-use type. Seems a bit cynical to target people on a limited budget who might want to withdraw only a small amount of cash but are being charged for the privilege.
    • PROLIANT
    • By PROLIANT 28th Jun 10, 11:25 AM
    • 6,045 Posts
    • 5,599 Thanks
    PROLIANT
    I bet that these 5 machines are the pay-to-use type. Seems a bit cynical to target people on a limited budget who might want to withdraw only a small amount of cash but are being charged for the privilege.
    Originally posted by ultrawomble
    An ATM operator today launched a network of free cash machines that only dispense 5 notes.
    Bank Machine has installed 21 cash machines across Britain that only give out fivers, regardless of how much money is withdrawn.
    The group said the move aimed to help get more 5 notes into circulation, while it also enabled people to withdraw smaller sums, which is designed to help them budget (see the Budget Planner guide).
    The introduction of the network of free-to-use machines follows a pilot of two ATMs that only dispense 5 notes in London.
    The group said these machines were currently putting around 100,000 5 notes into circulation each month.
    Originally posted by MSE Article
    From the MSE article.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
  • ultrawomble
    DOH! My bad
    • Lokolo
    • By Lokolo 28th Jun 10, 12:02 PM
    • 20,120 Posts
    • 15,272 Thanks
    Lokolo
    Loads of uni cashpoints already give 5 notes out, for obvious reasons!
    • andymc29
    • By andymc29 28th Jun 10, 12:24 PM
    • 461 Posts
    • 422 Thanks
    andymc29
    Loads of uni cashpoints already give 5 notes out, for obvious reasons!
    Originally posted by Lokolo
    2 x Pint of Snakebite and Black = 5 ?????
    Bank Loans: 25000 0- Barclay Card 14%: 2500 0- Student Loan: 12,500 0
    Current total 40,000 0 (100% PAID OFF)
    • I luv cats
    • By I luv cats 28th Jun 10, 12:28 PM
    • 14,070 Posts
    • 72,256 Thanks
    I luv cats
    Years ago (1980's) you could have a 5 in your withdrawal amount, can't remember the bank - it was in Blackpool.

    I heard somewhere some existing machines have the capacity to add 5 notes but don't know why banks don't choose to?
  • donotpassgo
    As a shopkeeper I would welcome this, we are always running out of fivers as people have to use 20 to buy something at say a couple of quid
  • rb10
    I heard somewhere some existing machines have the capacity to add 5 notes but don't know why banks don't choose to?
    Originally posted by I luv cats
    This is true, many machines do have spaces in them for 5 notes.

    However, if a machine has, say, 30k in 10 notes, then you'd only be able to fit 15k in the machine if you used 5 notes. This would mean that the machine would have to be refilled twice as often ... all at the bank's expense.
  • AndrewSo.
    There has been one of these machines outside of Waterloo Station for the past few months. I think it's great, the notes a brand new and the machine does not charge.
    • jonesMUFCforever
    • By jonesMUFCforever 28th Jun 10, 6:55 PM
    • 25,846 Posts
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    jonesMUFCforever
    Years ago (1980's) you could have a 5 in your withdrawal amount, can't remember the bank - it was in Blackpool.

    I heard somewhere some existing machines have the capacity to add 5 notes but don't know why banks don't choose to?
    Originally posted by I luv cats
    Most ATM'S have 4 boxes in then with 2 denominations either 10 and 5 or 20 and 10. Anybody with a brain can work out that a bank can put in a lot more cash using the higher denominations - personally I would prefer getting a 20 note and getting change rather than finding the machine out of order because it ran out of money.
    What goes around - comes around
    give lots and you will always receive lots
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