Less money at the cash machine
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In Austria many cash machines have a new limit. People can only take 200 euro at one time. Before that, the limit was often 400 euro.
Independent companies like Euronet do this. These companies want to make more money. They get a fee for every single action.
People need 400 euro now? They must use the machine 2 times. The central bank sees a big problem. The bank fears that people feel unsafe.
Austria has 8900 cash machines in total. Most machines keep the limit at 400 euro. There is no strict law for this limit.
The central bank hopes for new rules from the EU. A new cash office will start soon. This office will make fair rules for cash.
Independent companies like Euronet do this. These companies want to make more money. They get a fee for every single action.
People need 400 euro now? They must use the machine 2 times. The central bank sees a big problem. The bank fears that people feel unsafe.
Austria has 8900 cash machines in total. Most machines keep the limit at 400 euro. There is no strict law for this limit.
The central bank hopes for new rules from the EU. A new cash office will start soon. This office will make fair rules for cash.
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Definitions
- Cash machine
- A machine to get paper money with a plastic card.
- Limit
- The top sum of money from the machine at one time.
- Action
- A single step to get money or send money.
Locations
- Austria
- A country in Europe, south of Germany.
Sources
Tiroler Tageszeitung
Hunderte Bankomaten betroffen: Warum mancherorts das Limit von 400 auf 200 Euro gesenkt wurde | Tiroler Tageszeitung Online
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