This is Money says ...

By THIS IS MONEY
Updated: 18:00 EST, 27 March 2000

This is money says: It costs banks little more than 30 pence to carry out a cash machine transaction - yet under the old rules someone using the most expensive machines could face two fees totalling up to £2.50.

Such obvious profiteering on the part of the banks was impossible to justify, so Link's decision to ban double charging appears good news.

But customers still need to watch out. All Link has really said is that double charging will not be allowed. In 2001 banks and building societies will be allowed to charge non-customers for using their cash points - and there are currently no limits to the size of that charge. Anything much above 30 pence will be unacceptable.