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More Free Cash Machines For Poor Communities |
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(17th July 2008)
A joint initiative between HM Treasury and the ATM working group has ensured more than 419 new free cash machines are operating in low-income areas.
The joint venture has earmarked a further 143 locations where free cash machines are to be installed.
Around 1.3 million residents will benefit from the new machines, and will no longer have to pay a fee or be forced to travel outside their communities to receive free cash withdrawals.
Kitty Ussher, Treasury select committee chairman, said: "When people have to pay to get their hands on their own money it excludes them from the financial system and these real costs are often borne by those who can least afford it."
John McFall, an MP, said that it is vital that everyone is given access to basic financial services like free cash machines.
According to the Citizens Advice Bureau some cash machines charge as much as £3 for withdrawals and 40 per cent of ATMs now charge a fee.
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