Today,(Thursday 25 January 2018) I co-signed a letter to the Payment Systems Regulator, Hannah Nixon, with a number of other MPs to call for more to be done to protect free-to-cash ATMs. This is a cross-party letter designed to raise awareness of the loss of ATMs in our high streets and to warn about the threat of current ATMs transforming from free-to-cash to pay-to-cash.
This follows proposals put forward by the LINK Board, one of the largest ATM providers in the UK, that will see a 20 per cent reduction in the interchange fee, with the first five per cent reduction introduced this April. It has been warned that this will result in a significant reduction in the number of free-to-cash machines available in the UK and that once implemented, options to reverse the reduction are limited. These proposals are driven by a minority of organisations who want to reduce their own costs, to the detriment of constituents. Read more “Calling for action on ATMs”