What Are The Arguments Against Eliminating ATM Fees?

Having to pay high ATM fees to simply access your money can be very frustrating. In some places, like in the UK, there has been a movement to eliminate such fees and many in Canada and the US arguing that North America should follow suit. Nevertheless, there are those that would argue against such a measure for a number of reasons.

Firstly, one might argue against the elimination of ATM fees on ideological grounds. The only way to get the banks to waive these fees would be to have the government intervene. Most fiscally conservative people shudder at the thought of such government intervention in the economy and argue that it is up to to consumers to pressure banks to lower their fees and not the government to regulate this issue.

On more practical grounds, cutting ATM fees will lead many banks, and private companies, to also cut their ATM service. In other words, one will find less ATM's available in shopping centres, convenience stores, train and bus stations and on the street. As such, getting access to your money will actually be more difficult.

Finally, ATM access is a service and a convenience offered by banks to all people with interac cards, and not just those who have accounts at the given bank.  As such it may not be that surprising that they charge a fee.