You are here: Home - Saving & Banking - News -

Free cash machines rolled out across the country

0
Written by:
28/02/2007

Changes to the rules governing LINK cash machines will support the installation of free cash machines, from which customers will be able to withdraw money from their UK current accounts, in over 300 areas across the UK previously without them.

The move follows an agreement in December 2006 between banks, building societies, ATM operators, MPs and consumer groups to widen the free cash machine network.

The ATM Working Group identified 309 areas in the UK where customers were not able to access the cash in their UK current accounts for free, prioritising communities of 3,000+ people where no machines were available. All parties to the agreement concurred that about 600 new machines were needed.

Treasury committee chairman John McFall MP, who chaired the ATM Working Group, said: “I am delighted with the progress being made on this initiative.

“The uptake for these free cash machines in the first three months has been remarkable. The fact that firm sites have been found and agreed for nearly 400 cash machines already is a clear signal that they were much needed and welcome in the communities they are now serving.”

He concluded: “What we need now is a final push to reach the target figure of 600 and the financial incentives to cash machine operators should help us achieve the goal of allowing more people free access to the money in their UK current accounts.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Share prices still jumpy after ‘black Tuesday’

UK investment in the stock market is still subdued as uncertainty persists in the global markets after a ‘black Tuesday’...

Close