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UmBongo

The case of the disappearing ATMs

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Yesterday I had to get some cash out of an ATM. The Norwich & Peterborough Building Society at my local shopping centre closed on 1st Dec , leaving just the one ATM outside the Martin's newsagents. It was ' out of service'. Had to drive to Sainsbury's to get the cash. 

A few weeks ago I headed for the ATMs outside a Nat West bank, situated in an old building in  Norwich City Centre. To my surprise the bank  closed down and the gaps where the ATMs were were blocked off.

Is it just me or does anyone else find it harder just to acquire more cash from an ATM these days?

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1 hour ago, eight said:

http://www.dailymail.co.uk/news/article-5019659/Thieves-obliterate-cash-machine-huge-explosion.html

Apologies for the Mail link. A few hundred yards from my house, as the crow flies. Didn't hear a thing.

It's weird how people don't hear these things. One down the road got ripped out the wall at 3AM by a JCB. There are flats above it (literally). Yet nobody heard anything - wouldn't the bloody walls shake!?

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ATMS are apparently expensive to run (security, cash movements, etc etc) and I think there was some EU/UK regulation which meant they have to offer networks to competitors for much less charges, so effectively you subsidise your opponents.  Plus, when was the last time anyone said 'oh, I am going to open an account with XXX bank because they have more ATMs than YYY bank'.

Consumer gets what they want - free banking.  Downside is, no one wants to sell it..

 

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3 hours ago, wherebee said:

ATMS are apparently expensive to run (security, cash movements, etc etc) and I think there was some EU/UK regulation which meant they have to offer networks to competitors for much less charges, so effectively you subsidise your opponents.  Plus, when was the last time anyone said 'oh, I am going to open an account with XXX bank because they have more ATMs than YYY bank'.

Consumer gets what they want - free banking.  Downside is, no one wants to sell it..

 

Unintended consequences, or maybe intended ones leading to removal of cash from the system.

 

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