Cash machines closing at record rate: Positive Money response

Responding to the confirmation from Link that cash machines are closing at a rate of 250 per month, David Clarke, head of policy at Positive Money said:

“Today’s news that cash machines are disappearing at a record rate, including many in isolated areas, is deeply concerning. These closures risk leaving whole communities without access to cash, harming the over two million people who are wholly reliant on cash for their day-to-day shopping.

“Banks have pressured Link to reduce the fees they pay towards the cash network, and the result has been to make hundreds of machines unprofitable. The Payment Systems Regulator must urgently step in to prevent any further cuts to the interchange fee, and ensure that a widespread network of free machines is preserved.”

About Positive Money

Positive Money campaigns for a money and banking system which supports a fair, democratic and sustainable economy. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of over 65,000 supporters.