anthonyqkiernan
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(Another) Tax on the poor.
Jun 29, 2005, 10:36
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From elsewhere:
Cash machines really do screw the poor
Most sensible people already realised as much, but today's Evening Times has a nice bit of proof showing the way cash machine charges screw the people who can least afford to be screwed. In the Hyndland Road bit of Glasgow's West End, an area that's home to people in the range between "doing quite nicely, thanks" and "we wipe our backsides with £50 notes", 9 out of 10 cash machines are fee-free. In Shettleston Road, Britain's poorest parliamentary constituency, 6 out of 10 cash machines charge.
...
The reason it's a tax on the poor isn't just the location, but the charging mechanism. It's a per-transaction charge so if you take out £50, you pay £1.75. If you take out £10, you pay £1.75. So the charges have least effect on people who take out big sums.
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Rolling Ronnie
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Re: (Another) Tax on the poor.
Jun 29, 2005, 10:39
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Transaction charges for us to take out our own money are a bloody disgrace in whatever form they take. If, as you imply, they are deliberately targetting low income customers the relevant banks should be named and shamed. Sadly this poor excuse for a government will do nothing because its one of their favorite tactics too!
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anthonyqkiernan
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Re: (Another) Tax on the poor.
Jun 29, 2005, 10:52
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Sorry. Not my words, just a nice succinct blog about something that's been pissing me off for age.
No, I don't think that the poorer areas are being particualrly 'targetted', it's just another example of being on the bottom of the pile in a free market eceonomy. Banks are closing down in poorer areas because they are not 'profitable'. Unfortunately, then there's a gap in the market for the huge chargers. (Like those "we loan on your paycheck" places.)
With the government moving towards total payment of benefits into bank accounts, they should also be ensuring that all post offices have a no-charge cash machine on the front of them.
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Rolling Ronnie
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Re: (Another) Tax on the poor.
Jun 29, 2005, 11:19
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Exactly right, good point!
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cammyb
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Re: (Another) Tax on the poor.
Jun 29, 2005, 13:11
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Death to G12! I despise the false air of bonhomie and enforced smugness that hangs over the West End. And the feckers have destroyed practically every decent boozer on Byres Road over the last decade.
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anthonyqkiernan
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Re: (Another) Tax on the poor.
Jun 29, 2005, 13:54
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Oh, don't get me started...
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Lugia
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Re: (Another) Tax on the poor.
Jun 29, 2005, 15:53
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Yeah, the ATM fee issue has been stinkburger on this side of the Atlantic for some time now. Some chains, in order to court customers, HAVE been removing these as a PR move, but what's not said is that your own bank can also charge you for 'outside' transactions. So even if there's no fee where you get the money, that's not a guarantee that you won't be feeling the banks picking your pocket anyway.
Some banks, also, have attempted to incur charges if you have to speak with a live teller, also. The monster-bank Citibank has tried this, for example. Just another hit on people in lower classes, this...as the 'good people' more often have their financial issues dealt with by financial planners, CPAs, and so on, and only people who don't have recourse to this rely on direct interaction with the bank personnel to try and sort things out with their monetary circumstances.
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FourWinds
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Re: (Another) Tax on the poor.
Jun 30, 2005, 15:44
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The Irish gov't are currently trying to introduce a tax on ATM receipts to "help pay for cleaning them up". This will probably go the same way as the once-upon-a-time proposed tax on chewing gum.
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Sootickle
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Re: (Another) Tax on the poor.
Jun 30, 2005, 18:54
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Be aware that there are ethical options to the capitalist high street highwaymen.
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cammyb
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Re: (Another) Tax on the poor.
Jul 01, 2005, 08:22
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*sighs* Being an old fart, I fondly recall the Kebab on Byres Road circa 1980. As you said Anthony, let's not get started on this one.
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