scrabbler1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Nov 20, 2009
- Messages
- 6,710
I heard this story on my local news today, and found an article about it. The quote from the article which kinda baffled me was this one (emphasis mine):
https://www.msn.com/en-us/finance/p...and-overdraft-fees-are-on-the-rise/ar-AAI9qL1
“I think what may be happening is that the owners and operators of the ATMs who are relying on the surcharge income to operate those ATMs may be seeing fewer customers,” says Sarah Grotta, director of debit and alternative products of advisory service at the Mercator Advisory Group. “And so on a per-transaction basis, they may be raising the fees to make up for the fact that fewer consumers are actually paying a surcharge.”
I always thought the ATM charges levied on non-bank customers was because they were causing added wear and tear and other costs of maintaining their own ATMs. So, if fewer people are using other bank's ATMs, wouldn't that cause a proportional reduction in those costs?
It's like when the electric company raises rates because people are conserving energy and using less electricity to try to cut their electric bills?!?!
https://www.msn.com/en-us/finance/p...and-overdraft-fees-are-on-the-rise/ar-AAI9qL1
“I think what may be happening is that the owners and operators of the ATMs who are relying on the surcharge income to operate those ATMs may be seeing fewer customers,” says Sarah Grotta, director of debit and alternative products of advisory service at the Mercator Advisory Group. “And so on a per-transaction basis, they may be raising the fees to make up for the fact that fewer consumers are actually paying a surcharge.”
I always thought the ATM charges levied on non-bank customers was because they were causing added wear and tear and other costs of maintaining their own ATMs. So, if fewer people are using other bank's ATMs, wouldn't that cause a proportional reduction in those costs?
It's like when the electric company raises rates because people are conserving energy and using less electricity to try to cut their electric bills?!?!