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Fee-free cash machines 'being placed in low-income areas'
17.07.2008
The Treasury has announced 419 new free-to-use cash machines are operating in low-income areas.
It says it has also identified a further 143 locations where free cash machines are planned to be installed by the end of the year.
Work is ongoing to ensure that every identified area has a cash machine where current account holders are able to withdraw their money without charges, it added.
Economic secretary to the Treasury Kitty Ussher MP said: "This is real progress in our campaign for access to free cash machines in neighbourhoods up and down the country and a step forward for financial inclusion."
She commented that cash machines which charge users to withdraw their own money often hit those consumers who can least afford it.
Yesterday, the Office of Fair Trading stated that the current accounts market is not working in favour of the consumer.
It cited high levels of complexity and a lack of transparency, which result in many account-holders being unaware of charges both before and after they are incurred.
It says it has also identified a further 143 locations where free cash machines are planned to be installed by the end of the year.
Work is ongoing to ensure that every identified area has a cash machine where current account holders are able to withdraw their money without charges, it added.
Economic secretary to the Treasury Kitty Ussher MP said: "This is real progress in our campaign for access to free cash machines in neighbourhoods up and down the country and a step forward for financial inclusion."
She commented that cash machines which charge users to withdraw their own money often hit those consumers who can least afford it.
Yesterday, the Office of Fair Trading stated that the current accounts market is not working in favour of the consumer.
It cited high levels of complexity and a lack of transparency, which result in many account-holders being unaware of charges both before and after they are incurred.