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No fee-no purchase retailer cashback scheme to roll out across UK

No fee-no purchase retailer cashback scheme to roll out across UK

Following a successful 12-month pilot, Link, the UK’s largest cash machine network, is rolling out Cashback Without Purchase across the UK, enabling consumers to withdraw any amount up to £50 at small high street shops and retailers.

Already live in over 1000 locations, PayPoint is the first of Link’s Members to provide the service and will be offering it at more than 2,000 shops before the end of the year.

The initiative originally formed part of the Community Access to Cash Pilots, led by Natalie Ceeney CBE and was piloted in shops across Burslem in Staffordshire, Hay-on-Wye in Powys, Cambuslang in South Lanarkshire and Denny in Stirlingshire. Its future was secured beyond the pilots following an amendment to Financial Services Bill 2021, which became law earlier this year.

Consumers using the service can choose to withdraw any amount between 1p and £50 rather than being restricted to notes dispensed by ATMs. During the year long trial, more than 24,800 transactions have been made with an average withdrawal size of £27.81. Over £680,000 has been taken out using the channel so far.

Consumers can find their nearest Cashback Without Purchase location using Link’s Cash Locator and Cash Locator App.

Tracey Graham, Chair, Link Consumer Council, says: “Protecting access to cash is absolutely vital for millions of people who depend on it. Cashback Without Purchase is a convenient new way for people to withdraw notes and coins at their local retailer. The Consumer Council is delighted to see this important service rolled out across the country and will continue to seek innovative ways to support people who rely on cash for as long as it is needed."

Comments: (1)

A Finextra member
A Finextra member 03 December, 2021, 06:30Be the first to give this comment the thumbs up 0 likes

This kind of service has been available in the Nordics for some 20 years and was popular in desolete areas where atm:s were not available nearby. As the cash usage in retail outlets has dropped  to very low levels the stores cannot keep up the service due to lack of cash. Services like this can be an interim complement to cash distribution  network coverage. Banks offering the service to their customers paid retailers for it and consumers withdrawing with debit cards were not charged.

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