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But ATMs were introduced not for the convenience of the customer, but for
the efficiency of the bank, since they are cheaper than human tellers, so
they should make banking cheaper, not introduce fees.
However, the charges referred to are for charges in pulling money out of
banks other than their own, which was never easy in the good old days, so
perhaps some fee is justified.
Regards
DanG
GC wrote:
> ohh nooooo....the big bad banks are providing a service and--now this is
> shocking--are charging for it!!!! I suppose you'd rather go to a bank
> branch and wait for 20 minutes or so to cash a check or make a deposit??
> Isn't the time saved and convienience worth something???
>
> Dtrader wrote:
>
> > have any of you out there ever watched the tv show 'South Park' ?
> >
> > 'You Bastards !!"
> >
> > _______________________________
> >
> >
> >
> > http://dailynews.yahoo.com/tx/19990803/ts/banking_atm_1.html
> >
> > Tuesday August 3 5:36 PM ET
> > Banks Draw $2-$3 Bln Revenues From ATM Fees
> > NEW YORK (Reuters) - U.S. banks rake in as much as $3 billion a year
> > from
> > surcharges levied on customers withdrawing money from cash machines,
> > consumer groups say.
> >
> > Consumers pay from 75 cents to $1.75 each time they pull cash from
> > accounts
> > through an automated teller machine owned by a bank other their own,
> > generating between $2 billion and $3 billion in annual revenues for
> > U.S.
> > banks, the groups say.
> >
> > A bank industry group says many cash machines are not profitable after
> > banks
> > pay $15,000 to $50,000 for a terminal plus $20,000 to $30,000 in
> > annual
> > maintenance costs, but analysts say ATM fees have bolstered consumer
> > banking
> > income in recent years.
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