Affluent areas’ ATMs seem safer than the ones in deprived parts of the UK, where free cashpoints are disappearing fast.
That is according to new research from Which?, the product testing publication set up by the Consumers’ Association.
Having analysed data from Link, the ATM network, it found that 9% free cashpoints around the UK had either closed or stopped being free in the past 17 months.
Poorer areas were the hardest hit by this development, having lost 979 free-to-use cash machines during the examined period. This represented a 6% drop.
Comparatively, the more affluent areas only lost 223 free ATMs, representing a decrease by 4%.
“We know that people in more deprived communities tend to rely heavily on cash, so it’s deeply concerning that those who can least afford it are being hit with the extra burden of hefty fees to access their own money as free cashpoints close at an alarming rate,” said Jenny Ross, money editor at Which?.
“The government and regulators must urgently get a grip on these rapid changes to the cash landscape and guarantee people across the UK can continue to access this important payment method for as long as it is required.”
Link announced in August that it would pay to prevent ATMs from disappearing around the country. As a part of this push, it would directly commission free-to-use cashpoint to be put up in areas with little access cash.
Copyright © 2019 FinTech Global
