Buy custom A brief HIstroy of ATM'S
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| Topic: |
Business
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| Number of pages / Number of words: |
9 / 2424 |
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But the big banks weren't totally altruistic, even then. They needed to increase usage of their own machines to justify their own expense, and could do so most easily by adding volume from non-customer transactions.
At this point, some banks realized that many people were essentially hooked on ATMs and would be willing to pay some small amount of money to use them, especially when they were travelling...
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The banks were fortunate that this period coincided with an era of high anxiety about crime and a fear of carrying around large amounts of money.
Consequently, a number of banks slowly began to charge fees. However, originally, the networks themselves prohibited double fees, or surcharges. Some networks even feared that double surcharges would "kill the goose that laid the golden egg...
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