The PSR has given Specific Direction 12 (SD12) to Link Scheme Holdings Ltd (LINK) allowing them to maintain the broad geographic spread of the UK’s free-to-use (FTU) cash machine network.
The new Direction follows PSR’s consultation on issuing a new Specific Direction to replace Specific Direction 8 which was extended until the end of March 2022. SD12 revokes SD8 entirely and makes some of the key changes include to:
- Replace the ‘1km rule’ with a ‘defined radius’;
- Add a non-objection clause;
- Simplify the monitoring requirements; and
- Require an annual report on resilience.
SD12 came into effect on 3 March 2022 and is designed to support LINK in ensuring it meets its commitment to maintain a broad geographic spread of FTU ATMs and meet its users’ needs. Although PSR acknowledge that there is increasing demand in using digital payments, it is recognised that cash remains an important payment method and the PSR want to ensure that people and businesses continue to have access to cash and have confidence in the ATM network.