Scrapping of free ATMs will affect elderly hardest

OLDER people could be hardest hit by plans to scrap thousands of free-to-use cash machines across the UK.

The elderly and those in rural or low-income areas could struggle to make free cash withdrawals, with up to 10,000 cashpoints said to be at risk. Many already feel financially excluded following yet another wave of bank branch closures.

LiNK, the country’s largest cash machine network, will cut fees that card providers pay to ATM operators from July 1.

The Federation of Small Businesses (FSB) and consumer champion Which? have joined forces to fight the move with a new #SaveOurCashpoints campaign.

FSB national chairman Mike Cherry said older consumers will bear the brunt of cashpoint cuts as they are less likely to bank online and pay with cards: “LiNK needs to understand that millions find it easier to budget when they use cash.”

LiNK said the fee cut will not apply to free-to-use ATMs one kilometre or more from the next free cashpoint, but Cherry said many towns have only one ATM and often run out of cash: “The 1km commitment is hollow.”

Which? money expert Gareth Shaw said one in five people is already more than 30 minutes from their nearest cashpoint and a reduction would leave many struggling to access cash: “LiNK cannot guarantee that thousands of machines vital to people’s daily lives will not be closed.”

LiNK chief executive John Howells insisted they will maintain ATMs in locations that really need them.