Fee-charging cash machines
Consumers are spending a total of £10m a year withdrawing money from Post Office cash machines, MPs have heard.
The figure was revealed by Post Office bosses at a hearing of the Treasury Select Committee, which is investigating cash machine charges.
Stakeholder Response: Nationwide
Stuart Bernau, Nationwide's executive director, said: "The Treasury Select Committee's enquiry has shed much-needed light on the whole issue of fee-charging cash
machines.
"It is in the interests of consumers that charges should be fair and transparent and this enquiry has already had some impact on ensuring there is greater transparency.
"We look forward to the committee's report as we strongly believe that more remains to be done to safeguard the
"The suggestion that only five per cent of cash machine transactions will ever incur a fee is a misconception.
"Experience from the
Stakeholder Response: Which?
Laurence Baxter, senior policy adviser for consumers' rights organisation Which?, said: "The government has adopted a 'hear no evil, see no evil, speak no evil' policy to the critical issue of charging cash machines.
"Currently no clear picture exists of where these cash machines are; without this the scale of the problem cannot be estimated.
"As a matter of urgency the onus is on government to carry out a mapping exercise to clearly identify where customers are being charged to access their own money.
"The industry also needs to ensure suitable cash machine labelling as soon as possible.
"The government must start to conduct its own economic investigation into the fairness and amount of the cash machine charges.
"Following this a short term working group comprising government, industry, independent cash machine providers and consumer representation, must determine next steps for cash machines in the
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