Crisis on the high street as 8 ATMs axed every week
SCOTLAND is in the grip of a ‘cash machine crisis’ – with an average of eight disappearing from high streets every week.
In only 17 months, 562 have vanished – leaving some communities with no free-to-use ATM access.
It comes amid growing concerns over the elderly – with the number of bank branches also plummeting. More than 400 have closed since 2015.
A report published yesterday by consumer group Which? revealed the ATMs disappeared between January 2018 and May this year. This is the equivalent of 33 per month, or eight a week.
The report said deprived communities are more likely to see numbers fall.
It found 54 out of 59 constituencies in Scotland witnessed a fall in ATMS, with Glasgow Central losing 22 over the 17-month period. This was followed by Edinburgh North and Leith, Glasgow North and Glasgow North West.
Rutherglen and Hamilton West Labour MP Ged Killen has called on the Scottish and UK governments to work together to save communities from losing access to cash. He said: ‘These figures prove beyond what many of us have been saying for years – that the most deprived communities are disproportionately impacted when it comes to accessing their own cash.
‘It is about time that the Government got a grip on this crisis before it is too late.
‘High streets the length and breadth of the country are on their knees and a loss of over 10 per cent of free-to-use cash machines in Scotland in the past year will do nothing but exacerbate that.’
LINK, the network responsible for more than 80 per cent of ATM withdrawals in the UK, plans to cut the fees it pays to cash machine operators. It says this will help ‘rebalance’ the availability of free machines.
But there are fears that this could leave rural and vulnerable customers unable to access cash.
Which? money editor Jenny Ross said: ‘We know people in more deprived communities tend to rely heavily on cash, so it’s deeply concerning those who can least afford it are being hit with the extra burden of hefty fees to access their own money as free cashpoints close at an alarming rate.
‘The Government and regulators must urgently get a grip on these rapid changes to the cash landscape and guarantee people can continue to access this important payment method for as long as it is required.’
Public Finance Minister Kate Forbes said: ‘I absolutely share the concerns raised by Which? about the impact closures of free-to-use ATMs have on communities.
‘Access to cash services is vital for small businesses and communities – and we fully support the calls made by Which? and the Independent Access to Cash Review for the UK Chancellor to take urgent action to guarantee people’s ability to access and pay with cash.
‘We will continue to press regulators, banking providers and the UK Government to ensure that communities continue to have free access to local banking services and cashpoints.’
‘Most deprived are impacted’