ATM Customers Charged Twice

* Now let me get this straight. The banks close many local branches, lay off employees, and in their place install ATMs. And now they’re wanting to justify their double-dipping charges because of the expense of the ATM (June 12)?

As a volunteer credit union director, I know different. While there is a fairly large investment in an ATM location, the cost is far less than the investment in personnel and in bricks and mortar to house the personnel. In many cases the volume handled by ATMs is also larger than is handled in an office.

The banks claim that the expense to situate ATMs in places other than their real estate is more costly, and this is true. I doubt, however, that prudent managers would place an ATM unless the financial returns warrant it. The elephant tears shed by much of the banking industry to justify the recent avalanche of transaction charges curiously are dried up when they place ATMs in state capitols, where the lawmakers may get hit by their charges.

There are banks and credit unions that do not try to rip off the public. ATMs whose operators do not charge double or excessive fees have a decal on them. Look for the fair deal at one of the participants in this program, and stiff the greedy “big boy.”

ERIC DAVID

Long Beach