UK ATM network Link has promised to ensure that every high street in the country will have free access to a cash machine.
New data from the UK's Link ATM network shows an ongoing decline in the use of cash machines for withdrawing money and checking balances, as contactless cards and mobile banking services take hold.
UK banks and regulators are being urged to act to prevent the country from "sleepwalking" into a cashless society, in a hard-hitting report prepared by former financial ombudsman Natalie Ceeney.
The UK's Payment Systems Regulator is promising to take action to protect the availability of free-to-use cash machines across the country after the publication of new figures by network operator Link which show more than 250 machines a month disappearing from the high street.
ATM network operator Link has pulled back from a plan for a progressive ramping up of interchange fees after outrage from consumer groups over an apparent acceleration in ATM closures across the UK.
Consumer champion Which? is calling for regulatory intervention to halt the closure of cash machines across the UK as banks and convenience stores re-assess the commercial viability of their networks under a new charging model which takes effect next week.
UK ATM network operator Link is to introduce a phased reduction in interchange fees paid by banks in a move that could see tens of thousands of cash machines disappear from the high street.
The UK's Link ATM network is inviting Expressions of Interest for a 5-10 year contract to provide ATM switching and settlement services, the first time the contract has gone to competitive tender.
We know that consumers value the ability to access cash through a widely spread geographic network of free-to-use ATMs.
LINK has launched a consultation on the future level of its interchange fee, which funds the free-to-use ATM network.
© Finextra Research 2019