ATMs Allow $1 (€0.75) and $5 (€3.75) Withdrawals – A Sign of Recession?
Only Chase and PNC have implemented the system, so far
Chase and PNC costumers will be able to benefit from the option of withdrawing $1 (€0.75) or $5 (€3.75) bills from ATMs. With many other banks, clients are prompted for a $20 (€15) minimum.According to the Inquisitr, the measure has already been implemented in several locations around the United States. Chase has introduced the option with 400 ATMs, while PNC with its more than 7000 units.
Chase reps explained that they wanted to make it easier for their clients to pay their bills, but it seems to me like this is a clear sign of a recession.
Bankrate.com financial analyst Greg McBride seems to agree, “Particularly in difficult financial times when peoples’ account balances have been lower, not having to withdraw more money than you really need is helpful.”
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