About this episode
Why do you have to pay $4 to get $40 cash at a bar? And who does it go to? Zachary Crockett checks his balance. SOURCES: Bernardo Batiz-Lazo , professor in the Newcastle Business School at Northumbria University. Patricia Tuz , president of New York ATM. Jon Weilbaker , general manager of New York ATM. Sasha Weilbaker , freelance writer and daughter of Patricia and Jon. RESOURCES: " The Number of ATMs Has Declined as People Rely Less on Cash ," by Jim Carlton ( The Wall Street Journal, 2023). " Survey: ATM Fees Hit Record High While Overdraft and NSF Fees Fell Sharply ," by Karen Bennett and Matthew Goldberg ( Bankrate, 2023). " More Americans Are Joining the ‘Cashless’ Economy ," by Michelle Faverio (Pew Research Center, 2022). " Thieves Target ATMs Flush With Cash During Covid-19 ," by Scott Calvert ( The Wall Street Journal, 2021), " Locational Study of ATMs in the US by Ownership ," by Lian An, Christopher Baynard, Chriadip Chatterjee, and Chun-Ping A Loh (2018). " A Brief History of the ATM ," by Bernardo Bátiz-Lazo ( The Atlantic, 2015). EXTRA: " Why Are We Still Using Cash? " Freakonomics Radio (2016). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.