Nationwide Building Society has welcomed the Royal Bank of Scotland Group's (RBS) decision to introduce 300 new free cash machines in areas where there are no free-to-use machines, but it has suggested that the group should also convert another 7,000 charging machines which it controls via a subsidiary.
Nationwide says it has campaigned to ensure consumers continue to be able to access their own money for free, and it believes that any initiative by the financial services sector to increase the number of free cash machines is good news for the consumer.
Across the UK the number of charging machines is increasing much faster than the number of free machines so we welcome wholeheartedly the news that RBS is planning to install new free machines, said Stuart Bernau, Nationwide’s executive director.
While this is a great first step, we know RBS has also been increasing its network of charging cash machines – owned through its subsidiary Hanco. It would be a real boon to consumers if RBS would consider converting the 7,000 charging machines it owns to make them all free too.
The RBS announcement to introduce the 300 cash machines followed a report by Citizens Advice in the UK, which revealed that rural and poorer areas had very few free cash machines, which meant people were paying on average GBP1.50 each time they withdrew money.