Friday, January 28, 2022

Tag: ATM

ATM withdrawals down, must they come back up?

ATM Cash Withdrawals
Withdrawals from cash machines in the UK have fallen by £37bn during the 12 months of the Covid pandemic.

Purchase free cash access trial gets underway

ATM scheme trial
A small number of shops throughout the UK are trialing a new scheme sponsored by ATM operator Link, in which convenience stores offer customers cashback services without requiring an in-store purchase.

Covid leads to massive decline in cash withdrawals

ATM use cash withdrawals
Many argued it was already on the way out…but new figures released by ATM network operator Link show that Covid-19 may well represent the final nail in the coffin for the widespread use of hard currency in the UK.

Is the writing on the wall for cash as payments predicted to be 1 in 10 by the end of the decade?

Coins Royal Mint
The Royal Mint has confirmed that it will not be making any new £2 or 2p coins until 2030 at the earliest.

Cashless continues growth amid lockdown restrictions

ATM use declines Cashless growth lockdown
The pandemic has been instrumental in accelerating the move toward a cashless society, with access to ATMs limited by lockdown measures, a separation of customers and service staff, and a growing uneasiness around handling notes and coins.

Four Link members pledge to protect free-to-use ATMs

Link ATMs member pledge
Link has confirmed that PayPoint, Barclays, NatWest and Sainsbury’s Bank have pledged to maintain free access to cash from ATMs during the Coronavirus pandemic.

Link announces bank-funded ATM protection strategy

Link ATM protection strategy
Following the continued decline in free cash access across the UK, Link has announced a bank-funded strategy to restore lost ATMs, however, more than..

Post Office survey reveals cash struggle for UK holidaymakers

Post Office cash survey
A Post Office report has revealed that 57 percent of people on a staycation have experienced difficulty in finding a nearby bank or ATM, with 18 percent..

Cash infrastructure at risk of “falling apart,” say researchers

ATM Cash Access Review
The latest Access to Cash Review predicts a gloomy outlook in the near future of cash - and calls for urgent address to cash-access infrastructure...

Bacta progress growing concerns over ATM removals

The future accessibility to cash through ATMs has been a growing concern in the UK over recent years...

Cash mustn’t die, warns new study

cash, cashless, report
A new report has concluded that allowing the cashless revolution to completely replace notes and coins would represent a catastrophe for much of the population. Britain is at risk of “sleepwalking” into becoming a cashless society to the disadvantage of millions, a new study has ruled. Authored by ex-financial ombudsman Natalie Ceeney, the Access to Cash report estimated that as...

Cash machines closing up at alarming rate, says regulator

Cash machine
An increasingly cashless economy is to blame for ATM closures, but there’s still no sign of cashless payment for UK arcades. Free-to-use cash-machines are disappearing at a rate of 250 per month, according to national network co-ordinator Link. At present there are over 53,000 ATMs across the length and breadth of the country, down from 54,500 at the beginning of the...

Cashless under review as 300 ATMs close per month

ATM cashpoint
ATM network provider Link has launched an independent review into the effect of a cashless society on communities and small businesses, but many in the amusements industry are already feeling the crunch from cash machine closures. A review into how Britain’s increasingly cashless society is affecting communities and small businesses has been commissioned by ATM network provider Link, with the...

The war on cash: ATMs could face business rates

Retail giants are taking on the Valuation Office Agency over the application of business rates ATMs, and it’s a court case that could have far-reaching consequences for the gaming and amusements industry. A landmark court case could see ATMs inside amusements venues, pubs, and shops across the country classed as independent premises with their own rates to pay - a...

Las Vegas Amusements: We’re becoming Barmouth’s town bank

Las Vegas Amusements
Banking’s a tough old game, especially if you’re an amusements arcade. But that’s the position Charles Allday’s operation is being turned into by default. As Barmouth prepares to lose its last bank and post office, Las Vegas Amusements is being used by local businesses and visitors alike to turn coins into notes. It’s not what Allday wants to happen...

Bank of England provides insight into the future of cash

Coinslot - Bank of England Victoria Cleland
On the 50th anniversary of the ATM, Victoria Cleland, chief cashier and director of notes at the Bank of England, explains that rumours of a cashless society have been greatly exaggerated.   Analysing such statistics and the presence of a myriad of different payment types has led many to predict the death of cash. But if we dig further, it is...

Cards overtakes cash, but the king is not dead yet

Coinslot - Card cash
The ATM turns 50, Visa declare war on cash, and the British Retail Consortium reveal that more than half of all payments in the UK were made on a card in 2016. The landscape of payments is changing and there is no doubt that the industry’s regulation must keep up - but is a completely cashless society beneficial or...