An ATM rule change affecting 12 major UK banks has been branded as coming "eight years too late" by critics. The so-called "super ATMs" are now appearing on UK high streets following an initial trial back in 2024.
What are super ATMs?
These high-tech machines allow users to withdraw and deposit money across multiple banks. Cash Access UK, the organisation behind the initiative, stated that the scheme is vital for individuals who struggle to access basic banking services.
The banks involved in the super ATM rollout include major high street names such as Barclays, Bank of Scotland, Danske Bank, Halifax, HSBC, Lloyds, NatWest, Royal Bank of Scotland, Santander, TSB, Ulster Bank, and Virgin Money. Many of these institutions have branches in Birmingham.
Criticism from Payment Choice Alliance
However, the Payment Choice Alliance has strongly criticised the delay. A spokesperson said: "Here is the reality of this announcement. Firstly, LINK has had a super-ATM cash deposit transaction available for banks since 2016. It has never been used. So an eight-year delay. Procrastination is an art form in UK banking."
The group added: "There are well over one hundred sites already nominated for deposit solutions on the LINK Scheme Ltd website. Many have been waiting for a very long time. Over two years is commonplace. Only the NHS would think Cash Access UK is doing a good job."
"Even if there are a hundred super-ATMs installed by the end of 2024, there will still be many communities waiting for them. Just as there will be many communities waiting for the elusive bank hubs, whose opening is also the responsibility of Cash Access UK."
Concerns about a cashless society
The Payment Choice Alliance further warned: "The harsh reality is that the current administration in the UK has allowed such procrastination in the hope of cash fading away and the UK becoming the world's first cashless society."
Support from small businesses
Despite the criticism, the Federation of Small Businesses described super ATMs as "an important innovation." National chairman Martin McTague said the decline of the bank branch network has made it difficult for small business owners to deposit takings safely without closing early or travelling for miles.
