LINK has recently announced plans to increase what ATM operators make per transaction in a bid to keep access to free-withdrawal cash machines available across the UK.
This move comes in response to a drop in cash demand spurred on by the increase of electronic transactions.
ATM operators who maintain cash points will receive up to £2.75 per cash withdrawal, while bank customers continue to withdraw their cash without paying fees themselves.
- name
- John Howells
- job_title
- LINK chief
- company
- As quoted by BBC (Jan 23, 2019)
- quote_text
- "It is vital we continue to provide free access to cash to those who need it,"
Link's move follows a row over plans for a phased reduction in interchange rates, the fee operators receive from banks.
The fee is being cut from 25p to 20p over the next three years but the move which led to accusations that "cash deserts" could be created as operators shut less lucrative machines.
There are more than 50,000 free-to-use ATMs across the UK - and the vast majority will not be eligible for the new super premiums.
Currently, around 3,500 ATMs are protected - because they are more than 1km away from the next nearest free machine or are located in particularly deprived parts of the country where access to cash is vital.
- name
- John Howells
- job_title
- LINK chief
- company
- As quoted by BBC (Jan 23, 2019)
- quote_text
- "These premiums will further safeguard ATMs in remote and less well-off areas,"
UK ATM Timeline
2019
Battle to save remote cash machines (Jan)
2018
250 free-to-use ATMs closing every month, Link figures show (Sep)
2017
Free-to-use Link ATMs across the UK at risk of being closed down (Oct)
Over 500 ATMs closing every month, says Link (Jun)
Link ATMs: 8,000 in UK could start charging for withdrawals (Jan)
2016
UK record for the most cash withdrawn in a day broken as Christmas shoppers withdrew £730 million (Dec)
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