New ATM rules in 17 areas of England as major cashpoint 'trial' starts

06 June 2024 , 08:24

814     0

The innovative service offers free deposits to customers of many banks (Image: Getty Images/iStockphoto)

A 'super ATM system' is currently under trial for bank customers in the UK - giving residents in areas without branches the capability of depositing and withdrawing cash from multiple banks using a single machine.

Several major high street banks have collaborated to install "multi-bank deposit ATMs", potentially delivering much-needed support for those without access to a physical branch. The goal is to establish over 100 across the country by year's end.

This innovative service offers free deposits to customers of Bank of Scotland, Barclays, Halifax, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank, with plans of including more banks "soon". For businesses and their customers, cash holds a crucial role in payments, said Martin McTague, national chair of the Federation of Small Businesses.

If you can't see the poll, click here

He said: "The ability to deposit in a super-ATM that works for multiple banks is an important innovation, and could make a real difference alongside the accelerated rollout of banking hubs and maintenance of Post Office counters."

Arsenal's new £70m loan agreement explained amid fresh Mudryk transfer talks

Given the changes in customer habits, banks "had to make difficult decisions about maintaining their branches", says UK Finance, the trade body for banking. Affirming this point was Gareth Oakley, chief executive of Cash Access UK, stating the importance of having access to deposit-taking ATMs, reports Birmingham Live. He added: "It's just as important that businesses who accept cash can bank it, too."

The locations set to benefit from the initial rollout of super ATMs across the UK include:

Atherstone, Warwickshire

Swanage, Dorset

Heathfield, East Sussex

Bourne, Lincolnshire

Billericay, Essex

Shanklin, Isle of Wight

Finchley, North London

Leigh-on-Sea, Southend

Big Four banks made £20billion in 9 months as households battled interest rates

Chipping Norton, Oxfordshire

Tonbridge, Kent

Oxted, Surrey

Ilfracombe, Devon

Bradford, West Yorkshire

Yarm, North Yorkshire

St. Ives, Cornwall

Cowbridge, Vale of Glamorgan

Aviemore, Scottish Highlands

Rom Preston-Ellis