A fund to pay for free-to-use ATMs is set for a £4m cash injection next year.
Network operator Link set up a request for an ATM fund in October through which individuals and businesses could apply for a free-to-use cash machine in areas struggling with access to cash.
The fund kicked off with £1m from Link’s bank and building society members. To date, 20 new ATMs are in the process of being commissioned following 2,700 applications.
Link said it had visited more than 50 locations and spoken with 300 people who made the requests and have attempted to contact 1,500 more.
It revealed this week that a further £4m will be made available by the banks and building societies in 2020, as a result of the initial interest generated by the scheme.
Alongside the announcement Link will be publishing a list of areas which meet the scheme’s geographical requirements and a list of areas in its Financial Inclusion Programme that do not have a free-to-use ATM or Post Office.
“We are delighted with the response to the community initiative,” said Link CEO John Howells. “New ATMs are beginning to open and we have many more planned for the new year.
“Many of the requests have been made in locations where an ATM may not be viable. By publishing this data, we hope it will be helpful to organisations who are considering developing new innovations other than ATMs to provide access to cash such as the work by PayPoint, the retail terminal specialist, looking at the provision of cash directly from retailers’ tills.”
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