February 4th, 2014

Conservatives vote to keep sky-high ATM fees

NDP Consumer Affairs critic Glenn Thibeault (Sudbury) made the following statement on the defeat of his motion to cap ATM fees:

Canadians should not have to pay two or three dollars to withdraw their own money from an ATM especially as it costs banks as little as 36 cents to process the transaction. However instead of addressing these unfair fees, the Conservatives like the Liberals before them keep handing billion-dollar tax cuts to the same banks that charge them.

That just doesn’t make any sense.

The NDP has repeatedly urged the Conservative government to limit ATM withdrawal fees to 50 cents per transaction. We had hoped that the Conservatives would honour their promise to tackle bank fees and support this motion.

By rejecting this common sense motion which would have eased the burden on Canadians struggling to make ends meet, the Conservatives have rejected Canadians’ concerns in order to boost bank profits.

Making life more affordable for Canadians remains a priority for New Democrats and we will continue working to make that happen.