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The plan will see the UK’s banks and building societies contributing to a fund that can be made available should a high street be threatened by the loss of an ATM or Post Office.
The fund will be available to every retail centre with five or more shops - there are currently about 6,500 retail centres like this in the UK, with only about 10 having no free access to cash. Link will also directly commission free-to-use ATMs in communities with poor access to cash.
A restricted trial network is being installed in five locations around the UK and will run through 2020.
John Howells, Link CEO, said: ‘LINK is determined to defend free access to cash across the UK in the face of very rapidly declining cash use. Today’s action will protect consumers whilst much-needed industry reforms to move to a more sustainable utility infrastructure take place.’
? YourMoney.com - Link promises fee-free cash access on every UK high street
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