ATMs cashing in on the vulnerable

ATMs that charge people to withdraw their money are cashing in on the vulnerable says Plaid AM Dai Lloyd who wants government regulation of the charges.

Dr Lloyd, Plaid’s social justice spokesman has been alarmed by recent and rapid price increases on the cashpoint machines, which he says are particularly disgraceful under the current economic conditions.

The AM for South Wales West wants action from Westminster and is also investigating what action can be taken at Welsh Assembly level.

Dr Lloyd said: “The amounts that are being charged to use these ATMs are ridiculous. We have seen rapid increases in prices recently. Some are now charging as much as £2.50 for every withdrawal – for anybody withdrawing £10 that’s an extra 25%, a cost which many users can ill afford.

“To make matters worse it would appear that more deprived wards with no free cash withdrawal options are being targeted by these companies. This is disgraceful and unscrupulous behaviour by these ATM companies.

“Very often people living in these communities do not have the luxury of being able to travel to withdraw cash. Their options have been further limited by the London Labour Post Office closure programme. Even in those communities that are lucky enough to still have a post office, the days of withdrawing benefits and pensions directly and over the counter are long gone.

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