Which? warns on ATM shake up
Major changes to ATMs fees could reduce access to cash, consumer group Which? has warned.
Link – the UK’s largest cash machine network – is looking to lower its fees by 20%. Which? says that this could lead to mass closures of free-to-use ATMs across Britain. Its research has identified more than 200 communities in Britain with poor provision, or no cash machines at all, which might be hardest hit by the proposals. “We’re calling for the Payment Systems Regulator to conduct an urgent market review to fully evaluate the impact the funding changes could have,” it says.
Link claims there are too many ATMs in places where they are not needed and points out that the number of free-to-use machines rocketed from 36,400 in 2007 to 54,950 last year. On the other side of the argument is Ron Delnevo, Founder of Bank Machine and Executive Director Europe at the ATM Industry Association (ATMIA). In a LinkedIn post, he argues that Which? is understating the potential impact here. “Ultimately, over 20,0000 ATMs are at risk. I met both the Treasury and Payment Systems Regulator last Friday and called for an Independent Enquiry into Link’s proposals. I expect this request to be granted,” he writes.