Word: atm
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...cash? No problem, see that green and blue glow up ahead? Its a one-every-25 yards Bank Boston ATM...
There are several inevitabilities of modern life: death, taxes - and, for the moment, ATM fees. Monday, a federal judge in San Francisco issued a preliminary injunction against a ban on ATM banking fees that city residents approved earlier this month. The measure would block "double dip" charges, fees levied on consumers who use cash machines belonging to banks other than their own. Currently, both the consumer's bank and the ATM operator take a cut, which can result in a hit of up to $3.50 per use. That's a hefty sum to pay for a transaction that costs banks...
...bank representative will tell you, financial institutions have to cover the expense of setting up all these ATMs, and if consumers find the fees so unpalatable, they should probably just find a machine operated by their own bank. Many people agree. "I think it's amazing that anyone would expect to use another bank's ATM without paying a fee," says TIME finance writer Daniel Kadlec. And what about moments when you're trapped 60 miles southeast of Oshkosh and you can't find your own ATM machine? "These machines are an extraordinary convenience," says Kadlec...
...longtime admirer of Chicago, I can only hope that cooler heads prevail. Atlanta, which is to boosterism what Las Vegas is to ATM machines, has been playing catch-up ball for years. It's just the sort of place that would boast about having the busiest airport, which seems a bit like boasting about having the world's largest traffic jam. Asian cities like Kuala Lumpur and Hong Kong and Shanghai have become Atlanta. Eager to call attention to their commercial muscle, they all have tallest-building projects. They're like a family that moves into a fancy neighborhood...
...only people in the world who say 'thank you' to the ATM machine," he joked...