MPs SLAM BANKS AND BACK NATIONWIDE’S CALL TO PROTECT FREE CASH MACHINES

16 February 2006

MPs have backed Nationwide’s campaign to protect free cash machines and to improve transparency about charges.  They have also attacked the banks for their complacency on this issue at a House of Commons debate today.*

Nationwide has welcomed Treasury Minister Ivan Lewis' call for an ATM summit and has called on the rest of the financial services industry to join it in protecting consumers by committing to a “Pledge to Keep Free ATMs”. 

Nationwide executive director Stuart Bernau said:  “We welcome the opportunity to contribute to an ATM summit.  We have campaigned on this issue for a number of years and I have this week written to the chief executives of banks and building societies urging them to do the right thing and protect consumers by committing to keep free ATMs. Consumers are overwhelmingly against charges but we fear that unless there is concerted action by the industry, free ATMs could disappear.

“All Nationwide’s cash machines are free and our policy is to have a clear, standard, green “free cash withdrawals” sign on all machines.  We want all providers to have standard green ”free” or red "charging" signs so that people can see at a glance if they will be charged.

"MPs know that their constituents rely on being able to access their money from cash machines and know that without further industry action free machines are at risk. 

“Nationwide forecasts that consumers will pay £250m in 2006 to access their own money from cash machines.”