ATMs and eccounts: A mutual love affair
The impact that ATMs have had on banking can hardly be over-estimated. It is almost with disbelief that one today thinks back to an era when one would have to queue up at a counter only to be able to access one’s own money, when customers would be restricted by branch office opening times and the questionable competence of bank employees. Of course, all of that is now firmly history. First conceptualised in the 1930s, automatic teller machines were introduced to the wider public in the 60s and gradually established themselves as not just an incredibly useful way of withdrawing money, but also as fully-fledged banking terminals allowing you to deal with your money affairs 24/7.
And yet, the real banking revolution only occurred when ATMs started appearing all around the globe, allowing debit- or credit card holders not just to collect funds at home in the UK, but at a remote Chinese province as well.
ATMs at every one’s disposal
For the many unbanked in the UK, these important advantages, that so many of us take for granted, have unfortunately long been out of reach. Which is why the eccount has made such a strong impact on the market for financial products. After all, it is effectively open to anyone, finally allowing even bankrupts or unemployed to deal with their banking affairs in a 21st century fashion. And most importantly, it is allowing you to do all of this at highly competitive prices. ATM withdrawals at home in the UK are almost free at a mere £0.50 and they’re the same regardless of the amount you’re withdrawing. Which means you don’t have to visit the nearest ATM only once a month for fear of prohibitively high costs, but that you can simply meet your monetary demand on a day-to-day basis.
Cheap at home, competitive abroad
ATM withdrawals aren’t just cheap at home. An eccount’s ATM withdrawal rates abroad are also highly competetive. Overseas ATM withdrawals stand at a mere £2.25, allowing you to wave expensive foreign exchange offices goodbye. It also means you won’t have to be afraid of running out of money when travelling, since your eccount card gives you access to cash at any ATM in the UK or abroad that displays the VISA acceptance mark – which is a particularly valuable point, especially if you’re visiting countries where English is not widely spoken. Whenever you’re withdrawing money abroad, meanwhile, make sure to avoid dynamic currency conversion by always opting to have money paid out in local currency, rather than having it converted from British Pounds.
Free purchase transactions
Needless to say, you can also use ATMs to change the PIN on your eccount card, should you find it too hard to remember. But the best thing, perhaps, about an eccount is that, although they share a mutual love affair with ATMs, you won’t actually need to use your eccount for withdrawing money from an ATM all the time. After all, there’s always the option of using your card for direct purchase transactions at millions of sales points around the world – and it won’t even cost you a penny.