Loan by ATM within 5 years

BANK customers could soon be able to walk up to a High-Street cash machine and apply for a loan or have a video chat with a mortgage adviser.

Matt Phillips, the UK boss of Diebold Nixdorf, the world’s largest maker of ATMs, says the firm is already in talks with banks about launching cash machines that will be able to carry out a raft of banking services.

He said Britons will see these ATMs hit the High Street within five years as banks increasingly close branch networks to encourage online banking. However the removal of fee-free cash machines and local branches is criticised for creating ‘cash deserts’ in many small communities.

The ATM of the future is set to help bridge the gap left by the closure of many fullservice bank branches, according to Mr Phillips. He says while losing a bank branch is an ‘emotive topic’ for many communities, self-serve ATMs will help give vital access to cash and complement banking services.