Posted: 26 July, 2018 at 3:49 pm
Local MP John Healey is backing a campaign to save community cashpoints.
Along with Which? and the Federation of Small Businesses, John is demanding that the regulator urgently intervenes before more communities are left without free access to cash withdrawals.
Cashpoints are under threat because LINK – which runs the UK’s largest cash machine network – has cut the amount that banks pay operators for withdrawals, making some machines no longer financially viable to run.
With 2,611 machines having disappeared in the five months between December 2017 and May this year, fears are mounting that more cashpoints across Rotherham and Barnsley could disappear, impacting highstreets, local trade and peoples’ ability to pay for local goods and services.
John said: “Local businesses and residents rely on access to cashpoints. These machines are vital to the community and economy. They play an important part in people’s daily lives – from buying groceries to paying bills – access to cash is essential.”
“Given the significant number of local bank branch closures over recent years, some businesses and residents could be left without access to basic banking services. The regulator needs to ensure that people aren’t suddenly being left without access to the cash they need.”
“Machines are closing at a frightening rate and cashless payment methods aren’t the choice for everyone.”
Almost four percent of the ATM network was lost across the country in the five months up to May this year.
The ‘Save our Cashpoints’ campaign calls on the Payment Systems Regulator to conduct an urgent review to fully evaluate the impact that these changes could have on communities and peoples’ ability to use cash payments.