If customers want access to their cash 24/7 then the mechanisms (people, machines, etc.) to allow this access have to be paid for. ATMs cost money, the servers they connect to cost money, the communication lines they run on cost money, and so on.

The alternative is to:

a) Not have the access - and hence no more fees or...
b) Have a different kind of access and pay fees for whatever infrastructure is required to provide that access.

I recognize that is a service which I may choose to use; however, I wonder at what point is the service being unreasonable or unfairly applied.

If the service charge is only at ATM's other than for one's bank, what are the costs of the transactions. My guess there is a basic amount that the banks figure it costs them to do an exchange with another branch, regardless of the volume

I also, would guess, that some banks have recognized this is an opportunity to excel at, and so have opened multiple easy access ones, to draw in those for whom their banks don't offer so many convenient ATM's. In other words, some banks have identified it as a money-making venture, and invested capital in order to provde a convenient service to customers. They then, charge accordingly.

I'm ok with paying a fee for ATM withdrawals - especially when I use another bank's machine - but perhaps the fees should be limited. In my world, the fees would simply help offset any expense to the host bank, so I'd hope that $.50 would cover it. Anything more than that smells like gouging, in my books.

I hardly ever need cash, so this isn't a big issue for me, but when you see the big banks continually make annual profits in the Billions, even a modest service charge seems unnecessary.

I don't find much of a need to get money from ATM's any more. Most things that I buy now are paid for with my debit card. The supermarkets and other large stores allow me to get cash back when I pay with a debit card, they usually allow at least $20 cash back and some allow $50 cash back. The stores and my bank do not charge for getting cash back with a purchase.

As far a charging people for using ATMs at places other than at your own bank? Sure, why not. If somebody does not want to pay for the service they don't need to use it. Here, the charges for a withdrawal from an ATM not owned by your bank range from $1 to $2.50. I don't know of any banks that charge their own customers for using their ATMs.

My bank is actually a credit union and there are some credit union ATMs that do not charge an ATM fee for credit union members even if they are not a member of the credit union that owns the machine. When I was at the Puerto Rico airport I found it interesting that the credit union for one of the airlines had at least one of their ATMs in the terminal, and they only charged $1.50 for withdrawals.

Sure! There's got to be a cost to these insttutions to run the ATM's. However, the current charges probably do not reflect costs incurred plus a reasonable profit. Jack Layton may be figuring that the banks are gouging the public--and may well have a point. I suggest that banks on this issue reveal their costs and profit margins and that, if this is out of line, our politicians and their parties go after them to act reasonably!

although that is theoretically possible, the question becomes, what kind of cost allocations are done to say the true cost of the atm, especially if you have identified it as a money making venture.

i do feel that bank service charges are questionable; however, i am not sure if atm is where i would have started..then again, layton probably has friends that know a lot more about the bnaking industry & profits, than me.

They interviewed a bank representative on the radio yesterday morning. She was unable to say what the ACTUAL cost of using a bank's ATM was and she was unable to say how much money they collect on these charges. And we're trusting our money with these people?

Remember that this charge is over and above the $1.50 fee the banks have ALWAYS charged for using Interact. This is ANOTHER $1.50 fee charged for using a bank machine that is not from you're own bank.

For myself, I deposit my cheque, take a couple hundres dollars cash which is usually plenty for any cash needs and use debit for everything else. I can't remember the last time I even used an ATM.

You are paying for the convenience of not having to talk to a person to get your money. This is a luxury that deserves to be payed for because it's easier and faster than dealing with a clerk. If you don't want to pay the fee than use the clerks. I wouldn't want an NDP leader making any money decisions anyway. Look at what happened to Russia.

When the banks first installed ATMs they were free. That was to get us hooked on them. The real pupose was to get people from taking up teller time so that these magnanimous corporations could lay off a whole bunch of already under paid tellers. Now they have cut staff. Got us addicted and charge us for the free service.

It is our money. We earned it. We put it in the bank so as to use when needed. The banks ought to pay us for letting them use it. Oh, that is called a saving account. How about the banks paying us a fair rate of exchange for using our money.

The cashless banking system has become to important , for company too control
Canada is becoming cashless. The government should nationalize the whole system run
It not for profit The bank have made back any cost they had for setting it up.

This question has a lot of facets....
1) Consider that banks WANT you to use electronic delivery channels instead of using the branch - ATMs are WAY cheaper than tellers/bricks and mortar. I think banks should provide these electronic tellers for free.

2) An Interac FEE is charged when you use an ABM hosted by a different institution than the one your account belongs to. I would agree that this can be a for-fee service. This is a convenience service and the infrastructure to run it is expensive and non-trivial (but don't worry, I'm sure they'll be using those networks for other advantageous uses, not just ATM traffic).

3) White Label ATMs - these are the ones you see in bars, convenience stores,etc. They are allowed to charge a fee for using the ATM ON TOP OF the Interac fee. This extra fee goes to the ATM owner - eg the bar owner, convenience store owner, etc. Again, it seems a convenience fee. If you are offended by paying for the convenience, then wander over to one of your bank's ATMs.

I think people would be shocked to realize the degree to which banks depend on service charges for their income. If I Recall correctly, the institution I used to work at would have broken even one year if it weren't for service charges. That's right - the service charge revenues were roughly equal to the net profit that yet. Makes ya think.

Personally, I think banks should have to provide a base level of service (deposits, withdrawals) for free. Given the spread between the interest they can make on our money and what they pay the average account holder, I think this is reasonable. Beyond that, the concept of extra fees for extra services or convenience services should follow the free market

I can understnad the issue with identifying the true cost of the ATM revenue generation, as the answer would be "it depends". What portion of the cost of say, the CEO's salary is directly chargeable to the ATM revenue? what percentage of the ATM spaces are considering revenue generating, versus basic necessity for business customers. What about the actual network costs, startup costs, etc. Don't trivialize the assignment of costs.

Now having said that, I bet they are doing some fancy foot work around it, and trying to maximize the cost presentation, and those on the other side, will be attempting to minimize the cost presentation.

"Consider that banks WANT you to use electronic delivery channels instead of using the branch - ATMs are WAY cheaper than tellers/bricks and mortar. I think banks should provide these electronic tellers for free."

Do Canadian banks charge their customers to use their bank's ATMs? In the US, banks do not normally charge their customers to use their bank's ATMs. My credit union does not charge me anything to use anybody's ATM. There are a few exceptions; some banks have types of accounts where customers pay a fee for using any ATM, no matter who owns it. I used to have an account that had free ATM usage -- but charged me a $5 fee if I went to a teller.

If the ATM belongs to the same Bank, then the withdrawel should be without fee. If the ATM stands anywhere else and there are expenses for booking and providing the cash from soneone else, the fee is ok.

The votes are 74% 'No', but the vast majority of the comments seem to indicate 'Yes' or 'no comment'.

Do I think its 'right'? No. Just as I dont' think its 'right' for Air Canada to charge me to use a blanket on board.

Should businesses be allowed to? Yes, provided there is a true free market, then we vote with our feet about whether its right or not.

I like a poll question that makes you think.

My first reaction was "of course, they're running a business." But even as a bank shareholder, I wonder at what point is profit big enough?

ATMs save banks money. It is much less expensive to have clients use an ATM than a live teller.

Thus our ATM fees are not going towards paying for the machines, but to year after year of record-breaking bank profits.

My short-term solution is to buy bank stocks and insurance stocks"“ two industries that practically have a license to print money"“ to offset my ever-increasing fees. But I'd rather see all Canadians get a break.

Banks make money from nothing and then charge us money for something we must have to enable us to cash our pay cheaques.

It's robbery no matter how you wanna twist it.

ROBBERY that's fully sanctioned at that.

Can we live without an account?

My bank is Canada Trust and I pay low service charges. $7 a month.

I used to bank with Canada Trust and our banking fees were approximately $40.00 per month. That is highway robbery!!!! We now bank with President's Choice Financial and pay $0.00 per month. That's the way it should be.

The question isn't whether it is right or not....The question is "Why do they charge for withdrawls?"..Why fewer tellers? Why interest? Why fees at all...coz they can! We seem to use them and some guy invented the computer so.....

It costs $ to make and operate those machines...that's what the charge is for

true north is facing east
The banks save millions by not having staff. Using the atm and online banking is the most profitable for them. They discourage those who wish human contact. They could not affore those huge shareholder profits if they had to hire people.
Thanks for using ATM's it is helping my portfolo in my retirement