Consumers who use their debit or credit card to withdraw cash from automatic teller machines (ATMs) could be charged a collective £16.43 million for doing so this Christmas.
According to Sainsbury’s Bank, ATMs that issue a charge for the withdrawal facility could result in card holders paying out the sum, which is up from £1.46 million in 2005.
Since June 2002, the number of charging ATMs has increased by 188 per cent, with the supermarket lender approximating that 10.4 million withdrawals will incur a charge over the festive period.
“With so many more surcharging cash machines around, we all need to pay greater attention before we start our ATM transactions this Christmas,” said Alex Blake, head of channels at Sainsbury’s Bank.
“All machines should now carry an onscreen warning or a sticker but these are sometimes easy to miss,” he continued.
Cash machines that issue a charge now constitute around 44 per cent of all ATMs throughout the UK, with payments traditionally ranging from £1.50 to £3.
Last week, it was announced that up to 600 non-charging ATMs are to be placed in lower-income areas, with increased signage on those that do charge.
© Adfero Ltd