Banks putting part of the ATM network up for sale

Spocker

From the Indo: https://www.independent.ie/business/irish/banks-plan-to-sell-off-a-thousand-of-their-atms-38897781.html

Bank of Ireland is selling off a network of 700 ATMs, while AIB is seeking bids for 375 of its cash machines, the Irish Independent has learned.

Once the sale goes though (Euronet is currently bidding) I wouldn't be at all surprised if additional withdrawal fees are introduced :mad: - it could mean a trip in an in-branch ATM for the cheapest way to our own cash

Zaph

I've seen talk of fees up to €3.50 per withdrawal being mentioned.

Del2005

Spocker wrote: »

From the Indo: https://www.independent.ie/business/irish/banks-plan-to-sell-off-a-thousand-of-their-atms-38897781.html



Once the sale goes though (Euronet is currently bidding) I wouldn't be at all surprised if additional withdrawal fees are introduced :mad: - it could mean a trip in an in-branch ATM for the cheapest way to our own cash

Cash back on your debit card would surely be the cheapest and easiest way to get your own cash, you have to pay to use the counter in your bank.

Spocker

Del2005 wrote: »

Cash back on your debit card would surely be the cheapest and easiest way to get your own cash, you have to pay to use the counter in your bank.

Yep it is, and one I use all the time. Sometimes though I don't want to have to buy something to get some cash, so I use the ATM

coolshannagh28

Many atms are "in store" ie stocked from takings in larger outlets fairly unregulated .

They will probably sell them to Euronnet, they're expanding massively all over the globe.


From what i have read they don't charge fees for cards issued in the country they're based in but make a killing by ripping of tourists with fees and terrible exchange rates.


http://travellingclaus.com/not-use-euronet-atms-travel/

Spocker

From the Irish Times earlier in the week : "The amount withdrawn from the machines is down over the past decade, but people are still taking around €4,000 a year per capita from ATMs – that’s the fifth highest level in Europe"

edunne2010

Euronet has faced criticism for high service fees and the unfavorable exchange rates its ATMs offer.[15][16][17] Advocates for dynamic currency conversion argue that fees, in general, offer visibility of the total costs at the point of transaction.[18]

In January 2019, the municipality of Amsterdam announced its plans to prevent new Euronet ATMs from opening in shop facades, as Euronet "charges a hefty fee per cash withdrawal and uses unfavorable exchange rates" and does not contribute to locals' well-being.[19]

Euronet has also faced criticism from the city of Prague, where it had installed hundreds of ATMs, several of which have been illegally installed into the facades of historical buildings and heritage sites without permission, in some cases irreversibly damaging the buildings. One particular example is the cubist Kiosk at Vrchlického sady, which has been judged by UNESCO to have been damaged beyond repair by the installation of a Euronet ATM.[20]

Source: https://en.wikipedia.org/wiki/Euronet_Worldwide

Spocker

So the deal has been done: https://www.rte.ie/news/business/2020/0227/1118034-aib-sells-non-branch-atms-to-brinks/

and this is the bit that jumped out at me:

Customers from any banks that have debit cards issued in the Republic of Ireland will continue to not incur any surcharges or additional fees when using these ATMs.

I guess that means there will be additional charges for cash withdrawls the likes of Revolut/N26?

The J Stands for Jay

Mr.S wrote: »

Revolut is usually coded as a UK card and N26 German - so they should incur fees. But I doubt many people use those accounts to withdrawal cash regularly so shouldn't be a big issue.

I do find it a bit weird they only charge tourist / visitors a fee though..

Probably just easing their way into the market before they start sweating their assets

Spanish Eyes

For those going on holliers, the Spanish banks charge for ATM withdrawals now. Hefty if you don't need a lot of cash at one time.

Caixa doesn't charge as of yet (AFAIK) but the rest of them do. So take a whack of cash from your free withdrawals in Ireland before you go, if you have free withdrawals that is. Or take a whack out of one ATM whilst abroad. Don't know if it applies in other EU countries. Someone might know.

Seems to me to be a way to get us cashless. But sure what do I know.

Cash is necessary in many places. But that may be the reason behind it. Can you imagine going to a car boot or market or that and tapping your card? Yeah right.

dennyk

Mr.S wrote: »

I do find it a bit weird they only charge tourist / visitors a fee though..

That's the most profitable market; tourists are less likely to know where the nearest in-branch alternative ATM is (or even that such an ATM isn't likely to charge a fee here), and in addition to their foreign currency withdrawal fees, they can also rip them off on the exchange rate every time a naive or confused tourist selects the option to let Euronet do the conversion.

Spanish Eyes wrote: »

Cash is necessary in many places. But that may be the reason behind it. Can you imagine going to a car boot or market or that and tapping your card? Yeah right.

That's actually becoming an option in some cases these days; mobile-based payment processing apps are becoming more popular. A couple of the stall owners at my local farmer's market now take card payments.