Treasury steps in to save ATMs

Treasury committee chair Nicky Morgan has raised concerns over the future of retailer ATMs following a meeting with ATM network operator Link.

Current plans to reduce the fees paid from card companies to ATM providers were described as a “leap in the dark” by Morgan.

She added that the changes would make some machines unprofitable for retailers to maintain and could deny people access to cash.

The ACS and Federation of Small Businesses backed Morgan’s comments. ACS chief executive James Lowman supported Morgan’s view and said any changes “must be scrutinised in detail”.

Link chairman Mark Boleat responded to criticisms saying the proposal would protect rural locations, with planned ATM reductions to instead target “areas where there are currently multiple ATMs located close together."

Despite the Treasury's recent statements in support of a large network of free to use ATMs, the Treasury has also hit retailers with tens of thousands of pounds of additional business rates. This stemmed from a court ruling stating hole in the wall ATMs should have a separate rateable value.