A warning has been issued to anyone who uses an ATM machine as a major change is set to be introduced.
Notemachine has announced it will start charging users to withdraw cash at 1,000 of its machines. This means that people will be charged 65p per withdrawal.
Notemachine already charges customers at 2,500 of its cash machines after introducing fees in 2019.
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The number of free ATM's has reduced over the years as according to data from the largest cash machine network, Link, with just over 39,000 at the end of 2022. Only 3,300 of cashpoints across the UK have “protected” status and are guaranteed to remain free, the Mirror reports.
Chief executive Steve Makaritis said the move comes following a 10% cut to funding since 2018 as he says more funding is needed. He added: "Government legislation protects 'access to cash', but crucially fails to address the broken funding model that is forcing ATM operators to convert.
"Under current legislation, only a tiny fraction of ATMs are protected, receiving the right level of funding to keep them operational on a free-to-use basis. Unless more funding is given, households will be left with a very small number of free-to-use ATMs."
It comes despite a total of £83billion being withdrawn from ATMs in 2022. Bank branch closures are said to be partly responsible for the ATM decline as well as more people changing their shopping habits.
The ECHO previously reported on the full list of bank closures coming in 2023, including Lloyds, Halifax, NatWest and HSBC. According to Which?, banks and building societies have closed, or have scheduled to close, a total of 5,355 branches since January 2015. Many banks, including Lloyds, Halifax and NatWest have already announced further closures for 2023.
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