People in Cardiff may have to start paying to withdraw cash from ATMs or see them disappear altogether, if a funding row is not resolved. That’s according to the trade body ATM Industry Association.
Most ATMs in banks, building societies, garages and shops are run by a cash machine network called Link. The network has more than 70,000 cash point across the UK.
According to the UK Cash and Cash Machines 2016 report, the number of free-to-use withdrawals from independent ATMs rose by more than 50% on the previous year. It costs Link £1 billion every year to run these free-to-use cash machines.
The row is between Link and it’s 39 member banks and building societies over transaction fees.
At the moment if a customer uses their card in an independent cash machine, their bank is charged 25p per transaction and banks want this reduced.
In Cardiff, there are more than 1,000 Link cash machines and it’s uncertain how many of these cash machines are under threat.
CJS News spoke to people in Cardiff and many said the charges won’t stop them from withdrawing cash. One ATM user said “regardless of if you’re being charged for it, it’s a necessity.”
In a statement, the ATM Industry Association said “Independent cash machines play a vital role in allowing us convenient access to cash. “This fragile situation means we may not hang on to our ATMs for long. The future of widespread free access to cash is now in the hands of just a few key decision makers.”
Link were unable to provide comment.
