Watch Out For Those Private ATMs

[Fred Zed]

According to the NY Times some of them are being used for money laundering by criminal elements:

https://merb.cc/vbulletin/showthread.php?threadid=904

 

[Vic_da_Man]

Private ABMs are a scam and a cash cow. Even some of the big 5 banks own their own white label machines.

 

[Vic_da_Man]

I just recently resigned from one of the Big 5 banks. We heard so many stories about ABM fraud. The serious ones had emails sent around detailing the M.O.

 

[HornyTime]

I saw this programme, I think it was the 5th Estate, which detailed how Royal had established a "Private ATM" subsidiary. They then went to many of the convenience stores, removed their Royal ATMs, and replaced them with their "Private ATM"s. Then they charge more fees. What scumbags.

I use PC Financial. They give me free cheques, and free withdrawals on all CIBC machines. When I look at my monthly statement there are no service charges (as I only will use CIBC machines).