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<p>The Government recognises that widespread free access to cash via ATMs remains
extremely important in the day-to-day lives of many consumers and businesses in the
UK, and will continue to work with industry to ensure that it is maintained.</p><p>
</p><p>The Government established the Payment Systems Regulator (PSR) in 2015 with
a statutory objective to ensure that the UK’s payment systems work in the interests
of their users.</p><p> </p><p>As part of this, the PSR is monitoring developments
within ATM provision, and recently set out three requirements of LINK, the scheme
behind the UK’s ATM network: that LINK must maintain the current geographical spread
of ATMs; that any changes made to interchange fees must be incremental to allow LINK
to monitor the impact and take action if the impact is not as expected; and for a
greater focus on LINK’s Financial Inclusion Programme, which ensures the provision
of ATMs in certain areas where demand would not otherwise make one viable, to continue
to fill gaps in the network. The PSR has committed to using its powers to act should
any of the firms it regulates behave in a way that conflicts with its statutory objectives.</p><p>
</p><p>The PSR has recently published a summary of their work to date, which can be
found at <a href="https://www.psr.org.uk/psr-focus/the-UK-ATM-network" target="_blank">https://www.psr.org.uk/psr-focus/the-UK-ATM-network</a>.</p><p>
</p><p>Following the publication of these three criteria, LINK committed to maintaining
an extensive network of free-to-use cash machines, ensuring that the present geographical
spread of ATMs is maintained, and bolstering its Financial Inclusion Programme. LINK
will also protect all free-to-use ATMs which are a kilometre or more from the next
nearest free-to-use ATM, and ensure that any community that loses ATM access because
of a branch closure has a free ATM provided.</p><p> </p><p>Furthermore, LINK will
undertake an annual review of the impact of the interchange fee reduction as it is
phased in over the next four years. In addition, LINK will set up publicly available
monitoring on its website of every area of the country showing free ATM availability,
and highlight any areas where free ATM availability is lost.</p>
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