Free cash machines could disappear

The Times highlighted concerns that free cash machines could disappear within the next decade, following figures showing that 250 machines per month are closing as consumers opt for cashless payment options.

There are currently 53,000 free-to-use cash machines in the UK. The Payment Systems Regulator (PSR) has asked that free machines are given more protection. One machine operator, Link, responded saying it had implemented special arrangements to protect machines that are located more than 1km away from the next free-to-use machine, earmarking 2,365 in remote and rural areas to remain open. However, 76 of these machines closed between January and July. The PSR criticised Link for failing to meet its commitments, and Jenni Allen, managing director of Which? Money said: ‘Link is failing…to protect access to cash for people in remote and rural areas who need it most.’

Full articles:

→ BBC News - Free cash machines closing at record rate

→ The Times - Cash machines on course to vanish within a decade


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