MP calls for full review of free ATM provision

A Labour MP is calling for a review of the decision to change how free ATMs are funded.

Ged Killen has written to the Government’s payment systems regulator, asking for a full market review of ATMs following Link’s plan to cut the fees paid to cash machine operators.

Link plans a four-year phased cut totalling 20% and Mr Killen claims this could threaten the viability of 30,000 of the UK’s free-to-use ATMs.

The Rutherglen and Hamilton West MP said: “Scotland is expected to be one of the worst regions of the UK affected by Link’s decision.

“There are already more cash machines in one corridor in the House of Commons than on the whole of Cambuslang Main Street in my constituency.

“I do not believe the public will accept any further reductions.

“Following the most recent round of bank closures by RBS and now this decision from Link, I am concerned that the loss of financial infrastructure on our high streets threatens to leave many people across the country excluded from free and easy to use financial services.”

He added: “Considering the widespread concern raised regarding Link’s decision, I would encourage the regulator to show its teeth and engage in a full market review of the effects of these proposed changes.

“Many ATM providers will be taking financial decisions now in light of Link’s changes and will not wait until the fees are cut in July.”

Link has previously said it will “do whatever it takes to retain free access to cash for all communities” and plans to publicly monitor the country reporting on free ATM availability, highlighting any areas where this is lost and using its financial inclusion programme to redress this.

The company said the fee cut would “rebalance” the network, making sure new ATMs are not installed where they are not needed.

Ged Killen MP.