Remember the days when you could withdraw the simple amount of £5.00 from an ATM…? and then one day you could not do it anymore. I always found this to be a pain as there were times when I only had £5.00 in my account (yes, it’s been that bad at times…) and it has not helped that many banks and Building Societies now will not even let you withdraw that small account over the counter due to their minimum-withdrawal-in-branch limits. Now cash machines that only dispense the £5.00 notes, regardless of how much money is withdrawn, are to be installed across the UK. The nationwide introduction of small fund-only ATMs comes after support by Bank of England bosses. They want to increase the circulation of the notes so that less crumpled fivers are handed out as change in shops.
On the other hand, while I welcome this re-introduction, charges are likely to be introduced on these smallish withdrawals and there is the possibility of the ATM’s running out of cash faster than usual. I, however, like the idea of the small-change dispenser – ever dashed in a hurry to withdraw some cash to pay for your bus ticket on a Monday morning only to get a £50.00 note pop out…? and then there’s the look on the face of the bus driver…Copyright © 2007-2013 by Mums Finance. All rights reserved.
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