The BBC ran a report about ATM scams the other day.
In this case, it's the scam called "scandalous bank fees if you use an ATM overseas".
They do love those stories about how banks ripoff customers don't they?
The gist of the report is that you are charged withdrawal fees, currency conversion fees and interest on a credit card from the moment you use an ATM overseas.
True.
Waddya expect? Something for nothing, ya schmuk?
Nope, if you want to see how a real ATM scam works then you just need to watch the Real Hustle:
Yep, the old ATM skimming scam. An oldie, but a goodie.
Mind you, it's far more effective to just take the whole ATM isn't it, as demonstrated by the 2001 movie, Trailer Park Boys (warning: swear words used liberally in this clip):
Speaking of funny ATM videos, this one is popular ... although it's not surprising due to the appearance of Microsoft CEO Steve Ballmer at 1:43:
Gotcha!
My favourite has to be The Westpac ATM from Hell though, which is worth watching all the way through as it gets funnier towards the end:
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
