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Why some cash machines charge fees

Thousands of ATMs have started charging fees for people to withdraw their money. Cash machine operators say it’s because banks are paying them less and that fewer withdrawals are happening. But how can those ATM companies justify charges of at least 95p per withdrawal when the amount they missing out on is only two pence? Money Box’s Paul Lewis has been speaking to Tim Halford, the managing director for UK and Ireland of Cardtronics, one of the UK’s largest cash machine providers…

Image: Cash Machine

Release date:

Duration:

4 minutes