{"id":134908,"date":"2017-10-03T16:53:24","date_gmt":"2017-10-03T22:53:24","guid":{"rendered":"http:\/\/hill-kleerup.org\/blog\/?p=134908"},"modified":"2017-10-03T19:20:26","modified_gmt":"2017-10-04T01:20:26","slug":"rise-fall-money-wall","status":"publish","type":"post","link":"https:\/\/hill-kleerup.org\/blog\/2017\/10\/03\/rise-fall-money-wall.html","title":{"rendered":"The Rise and Fall of the Money Wall"},"content":{"rendered":"

Within this article talking about how banks are jacking up the fees on out-of-network ATM transactions is a more interesting story, the reason for the fee increases: ATM use is in decline. Between debit cards and wireless transactions and e-commerce and mobile-capable credit card readers, etc., the urgent need to run out and grab some cash is simply fading away.<\/p>\n

The young whipper-snappers of today’s era have no conception of how revolutionary the ATM (which stands for “Automated Teller Machine”) was. When I was a wee lad in college, there was a Friday afternoon ritual that everyone, student and grup alike, performed: run into town to cash a check to have cash for the weekend. Underestimate your need and you would be stuck, because banks were closed on Saturday and Sunday. (It was a simpler time.)<\/p>\n

That was just on the cusp of the ATM revolution (which occurred alongside the PC revolution). Suddenly, money was available 24×7, and in many, many more locations than the local branch of your bank. Yeah, there were fees, and weird security concerns about visiting a building after dark and getting money out of the wall, but it was a stunning convenience that just plain old made people’s lives easier and less complicated in a way that today isn’t even noticeable, it’s so pervasive.<\/p>\n

It is, perhaps, a sign of one’s age when landmark technological improvements that one can clearly recall are, themselves, gradually rendered obsolete.<\/p>\n

ATMs aren’t going anywhere. Yet.<\/i> But, like pay phones, I suspect the writing is on the wall.<\/p>\n


\n
\n<\/a>
\nATM Fees Hit New Highs Because Fewer People Are Using ATMs<\/a><\/span>
\nBetween the rise of e-commerce, credit\/debit card use, and mobile payment platforms, the days of \u201crunning to the ATM\u201d for enough cash to get through the day are gone for many people. Th\u2026<\/p><\/blockquote>\n

View on Google+<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Within this article talking about how banks are jacking up the fees on out-of-network ATM transactions is a more interesting story, the reason for the fee increases: ATM use is in decline. Between debit cards and wireless transactions and e-commerce and mobile-capable credit card readers, etc., the urgent need to run out and grab some … Continue reading “The Rise and Fall of the Money Wall”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":134912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[106,35,20,108],"tags":[1243],"class_list":["post-134908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-plusposts","category-big-business","category-hi-tech","category-history","tag-atm"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/10\/atm.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7711,"url":"https:\/\/hill-kleerup.org\/blog\/2005\/01\/14\/cash_registerin.html","url_meta":{"origin":134908,"position":0},"title":"Cash registering to vote","author":"***Dave","date":"Fri 14-Jan-05 7:04am","format":false,"excerpt":"The banking industry processes millions of transactions daily, yet ultimately only \"loses\" $500 per $1 million transacted. 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