Treasury Committee seeks LINK assurance

Nicky Morgan, chair of the Treasury Committee, has written to the Chairman of LINK seeking assurances on the continuity of provision of cash machines. There is a proposal to reduce the fee card issuers pay to ATM operators from 25p to 20p per withdrawal and the Committee is concerned this could make some machines not economically viable. She makes the point that the LINK financial inclusion programme has committed to improve access to cash for all UK customers. The letter asks for details on how LINK will assess closure of ATMs and the actions it will take to address potential consumer detriment.

Following this, Link, in its response, which highlighted its sensitivities to the needs of the community, referred to a consultation on the Interchange Rate and how any changes should occur. It said changes will be taken seriously, made only after careful assessment and can be modified if it is having an undesirable affect on ATMs.