We are often told that we are living in an increasingly cashless society, with internet shopping, telephone banking and chip and pin debit cards. Which is all very well, but when utilising all this new technology ends up costing you more than handing over good, old-fashioned pounds, shilling and pence, then something has gone wrong somewhere.
As we report in our business section today, there is a growing campaign against the fact that customers who withdraw money from some hole-in-the-wall cash machines end up getting charged for the privilege of accessing their own money.
This is obviously not on, and thankfully at least one local financial house is fighting against the trend. The Bradford-based Yorkshire Building Society has staunchly opposed the growth of charges, and the company organised a 100,000-signature petition when the High Street banks first brought them in some years ago.
Now it seems its outrage has done some good because MPs who have been chewing over the problem for months have decided that the charges are just too harsh.
Some customers have to pay up to £1.75 per withdrawal, and the Treasury Select Committee is calling for clear warning signs on automated telling machines informing people that taking out money will cost them.
Although a positive step, the MPs should be following Yorkshire Building Society's campaign and seeking a ban on all withdrawal charges at bank machines.
It's rare - but extremely heartening - to see a financial institution not only passing up the chance to make extra money, but publicly decrying a practice they see as blatantly unfair. The other banks should be shamed into following Yorkshire's lead.
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