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Low-income areas get more free cash machines
17/07/2008 17:13:00
Under a new scheme, there will be an increase in free cash machines installed in low-income locations to help people avoid charges just "to get their hands on their own money".
The ATM Working Group will be working closely with the Treasury to introduce enough cash machines so that around 1.3 million residents will be able to access funds without paying for it.
Kitty Ussher MP, economic secretary to the Treasury, said: "When people have to pay to get their hands on their own money it excludes them from the financial system and these real costs are often borne by those who can least afford it."
In addition, the move will also remove the need for people to travel longer distances than necessary to find a free ATM.
Also making the announcement was John McFall MP, treasury select committee chairman, who emphasised Ms Ussher's comment by saying that in the society people live in today "financial exclusion can lead to social exclusion".
In related news, the Office of Fair Trading said the personal current account market is not treating low-income and vulnerable consumers very well as 1.4 million people paid more than £500 a year in bank charges in 2006.
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