Students Warned Over Fee-charging ATMs

According to research from Nationwide Building Society, there are an estimated 200 fee-charging cash machines located on university or college campuses, making students particularly at risk.

The smaller amounts likely to be withdrawn by students in also a potential problem, with charges of around £1.50 on each withdrawal quickly adding up when only £10 or £20 is taken out each time.

"Students need to be particularly alert when they are withdrawing cash as charges to access their own money quickly add up and hit hard in the pocket of people already facing the challenge of making ends meet while they are studying," commented Stuart Bernau, executive director at Nationwide.

"Across the UK consumers will this year pay £250 million to access their money from cash machines, but those charges can be avoided if you seek out a machine that is free."

Mr Bernau also called for ATMs to be more clearly labelled as fee-paying in order to save consumers unnecessary charges.