Link ATM shake-up

veryintrigued

http://www.bbc.co.uk/news/business-38684548

This would be a kick in the proverbials if it happened.

Interesting figures on how the independent retailers get charged.

JuicyJesus

It makes sense. Cash is dropping like a stone in turns of usage, while it is inordinately expensive for banks to handle as it's a physical item that needs to be transported securely, handled securely, have multiple people checking and verifying it etc etc etc. This especially applies to cash machines that aren't in branches (where people are located to service them anyway) or are in the middle of nowhere.

I can understand why if the LINK fee is static and they're receiving less of it but the bank's costs are increasing (as they do) they'd be upset and inclined to either pull out of the market or start charging. With the LINK fee actually dropping for non-branch ATMs then that is going to render a great number of them uneconomical in one fell swoop, and again I don't especially blame the operators. At some point people have to realise that someone has to pay for peoples' banking services and it doesn't always have to be the banks.

The article is very sensationally written ("bankers" is a word that sets off my bell!nd alarm something fierce, as it seems to trigger some sort of Pavlovian response in idiots) which is surprising for the BBC.

datlex

I saw that, I think will be detrimental to poorer communities where there are no banks.