We hear a lot about the time value of money but little about the “money value of time.” Instead of bemoaning the spread of surcharges on the use of bank ATM machines, Professor David E. Sorkin (“Surcharge epidemic,” Voice, Jan. 23) should be praising the progress in personal productivity and the time and money the machines save most individuals who use the ATMs regularly.
Initially reluctant to use the machines, I have become a believer. I figured recently that by using the ATM in the building where I work instead of walking to the bank, each transaction saves me approximately 14 minutes. Since I make roughly 1 1/2 transactions a week, I save more than 18 hours a year. Figure what your average hourly income is and, I think, most would agree that the use of the ATM machine is a good buy for most people.
