Fears of cashless society grow as seven in 10 ATMs could start charging... or face the axe
- More than 37,000 cash machines at risk of being removed or imposing charges
- Interchange fee paid by banks to operators is not increasing in line with inflation
- Machine operator Notemachine said 2,100 of its ATMs might become pay-to-use
- Number of free cash machines already fallen by more than 12,000 since 2019
As many as seven in ten cash machines could be removed or impose charges.
One of the UK’s biggest independent machine operators, Notemachine, warned cuts in the fees it receives from banks could leave firms with no other option. It means more than 37,000 free ATMs are at risk.
It comes after Link, which runs the UK cash machine network, told operators the interchange fee, paid to them by banks when their customers use a machine, would not increase despite rises in running costs.
FULL ARTICLE AT: https://mol.im/a/11179803 via https://dailym.ai/android
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