Banks’ duty to provide free ATMs and keep branches open

Banks’ duty to provide free ATMs and keep branches open


I take note of the present arrangements over the eventual fate of the ATM organize (Fees column may prompt to charge for Link money machine withdrawals, 19 January). In 2005, I drove a Treasury panel investigation into money machine charges which discovered many neighborhoods buyers were being hit with high charges. In Speke, a low-salary region in Liverpool, purchasers confronted charges of £1.50 for making money withdrawals. I built up a working gathering including banks, shopper gatherings and ATM administrators. The banks consistently dedicated themselves to the long haul eventual fate of a huge system of free money machines and a “monetary incorporation premium” was presented for administrators of free trade machines out 1,500 under-served low-pay regions.

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The significance of the allowed to-utilize ATM organize has expanded as banks have shut 1,000 branches in the previous two years. It would be a debacle for the banks, and in addition customers, SMEs and low-salary ranges, on the off chance that we came back to the position of the 1990s, when a confounding interwoven of understandings brought on numerous buyers to pay extreme money machine charges and punished challenger banks.

It is essential that as a component of the present arrangements banks, ATM administrators, the Payment Systems Regulator and the Bank of England concentrate on concurring an arrangement that ensures the long haul feasibility of an across the board system of allowed to-utilize money machines and advances monetary incorporation and rivalry.

John McFall

Place of Lords

• When the executive of HSBC, Douglas Flint, showed up before the Treasury select council in 2015 to face inquiries on the bank’s exercises, he conceded his disgrace at “an unpleasant rundown”. He was right. It included Libor control, mis-pitching home loans to Fannie Mae and Freddie Mac, Forex fixing, shortcoming in tax evasion and methodical supporting of assessment shirking at its Swiss backup.

Two years on, we can now include carelessness of neighborhood groups and high avenues to that rundown. A year ago, HSBC shut more than 200 branches – more than any of the other real banks – and it has quite recently declared another 62 terminations this year (Report, 25 January), incorporating into my voting demographic of Wood Green. Gone is its dedication to being the “world’s nearby bank”. On the off chance that it carried on in light of current circumstances, it would have no branches left before the finish of 2019.1

It’s a genuine hit to the numerous occupants and organizations who depend on over-the-counter branch benefits and to the committed branch staff. I have required a pressing meeting with HSBC supervisors to talk about these recommendations and will encourage them to reconsider their misinformed arrange.

Catherine West MP

Work, Hornsey and Wood Green