With fee-charging cash machines now accounting for 40% of the market, the NCC (Stockholm: NCCb.ST - news) believes this aspect of the sector is spiralling out of control. Hardest hit are rural communities where three in every four machines now charge customers to withdraw cash. Philip Cullum, NCCs Deputy Chief Executive, said: Our research shows people on limited incomes prefer to manage their money on a daily basis, and so make frequent, small withdrawals. At a fee-charging ATM, a single withdrawal costs, on average, £1.50. This means consumers withdrawing £50 per week in five £10 withdrawals would pay over £30 a month in ATM fees. This is catastrophic for low-income consumers trying to manage a tight budget.
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