Britain's rush to a cashless future is accelerating as new figures show that cash registers are disappearing at 488 per month.
Nearly 500 ATMs were closed every four weeks between June and December, according to Link, which manages the ATM network. About half of these machines, 254, were free machines.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Consumer group What?" & nbsp; warned that communities risked cutting money and thus a way to pay for local goods and services, highlighting recent bank failures, including The TSB computer crisis, Data-reactid = "19"> A group of consumers who? warned that communities could be cut off from cash and thus a way to pay for local goods and services. He pointed to recent bank failures, including the TSB computer crisis, which cut customers off their money.
The pace of ATM closures is also increasing, according to Link data. Nearly 4,700 machines were closed in 2018, compared with 1,400 the previous year.
Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Last month, Link announced a "Super premium" protect vulnerable and free-of-use machines & nbsp; in rural communities. Independent ATM operators, however, have argued that this system, which would see banks pay more suppliers per transaction, would actually benefit very few machines. "Data-reactid =" 21 "> Last month, Link announced a" super premium "to protect vulnerable people, but independent ATMs claimed that the system would see banks pay more suppliers per transaction, would actually benefit only very few machines.
Notemachine Chief Executive Officer Peter McNamara said the number of machines in his business that could be used was in the range of less than 10%.
He said: "It's a publicity stunt, it will do very little."
<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Mr. McNamara said that the move would not reverse the Other changes that reduce the fees charged by claimants by withdrawal 25p to 20p in summer 2018. At the time, experts warned that the seemingly minor reduction would significantly hamper providers' ability to offer free ATMs. "Data-reactid =" 24 "> Mr. McNamara stated that this decision would not overturn Link's other modifications, which reduced the fees collected by suppliers by withdrawing 25p. At the time, experts warned that the seemingly minimal reduction would significantly hinder the ability of suppliers to offer free ATMs.
<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "A review of the importance of the access to physical money part of his findings in December with President Natalie Ceeney revealing that there were as many as eight million people& nbsp; in Britain, which depend on cash and for which digital surrogates are not appropriate. & nbsp; "data-reactid =" 25 "> An analysis of the importance of access to physical money was reported in December by President Natalie Ceeney.In Britain, no less than eight million people depend on Money and for whom digital surrogates are not appropriate.
Jenni Allen said: "We are seriously concerned that the alarming rate of ATM and bank branch closures is leaving people struggling to access the cash they rely on.
"Cash is also a vital safeguard for the growing popularity of fallible digital payments – so the government needs to appoint a regulator to oversee these changes and ensure that no one is left behind and struggling in their daily lives. . "
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Sign up for our & nbsp; for the week's most important news on personal finance, expert analysis and advice, from retirement to property to investment ideas and savings tips,weekly newsletter."data-reactid =" 28 "> For the latest news, analysis and expert advice on the most important personal finances of the week, from retirement to property to investment ideas and advice savings, sign up for our weekly newsletter.