This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-38760352

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Free cash machine network under scrutiny Free cash machine network under scrutiny
(35 minutes later)
Measures to keep cash withdrawals free for millions of bank customers are to be explored by a special committee.Measures to keep cash withdrawals free for millions of bank customers are to be explored by a special committee.
The Link network operates 70,000 ATMs in the UK, with 39 members including banks and building societies.The Link network operates 70,000 ATMs in the UK, with 39 members including banks and building societies.
Some banks with a large number of cardholders are thought to be unhappy about the fees they pay.Some banks with a large number of cardholders are thought to be unhappy about the fees they pay.
The new working group "will to explore a way forward for the sustainability of the scheme" and aimed to report later this year, Link said.The new working group "will to explore a way forward for the sustainability of the scheme" and aimed to report later this year, Link said.
Break-up?Break-up?
The full committee met at Canary Wharf in London on Thursday.The full committee met at Canary Wharf in London on Thursday.
At the centre of the dispute are the so-called interchange fees. When a customer of one bank uses a cash machine belonging to another bank, the customer's own bank pays a fee to the operator, in the region of 25p.At the centre of the dispute are the so-called interchange fees. When a customer of one bank uses a cash machine belonging to another bank, the customer's own bank pays a fee to the operator, in the region of 25p.
It is thought that banks with a large number of cardholders feel they are being unfairly penalised.It is thought that banks with a large number of cardholders feel they are being unfairly penalised.
Fears have been expressed by some in the industry that a breakdown in the current agreement could result in more cash machines charging a fee.Fears have been expressed by some in the industry that a breakdown in the current agreement could result in more cash machines charging a fee.
Ron Delnevo, executive director of the ATM Industry Association, said: "It is a stay of execution because we need to see what the outcome of the working group is.
"We need a solution that is fair to all the parties and it needs to be sustainable. We don't want to be doing this every year. We need a long-term solution."
At the moment about 75% of ATMs are free to use.At the moment about 75% of ATMs are free to use.
In 2016, consumers made around 2.1 billion cash withdrawals at Link machines amounting to £129bn. The average withdrawal value was £69.In 2016, consumers made around 2.1 billion cash withdrawals at Link machines amounting to £129bn. The average withdrawal value was £69.
Link said the network costs £1bn to run.Link said the network costs £1bn to run.