The UK’s Link ATM network is piloting a new type of cash machine that can accept deposits for several banks.
The first machine is operational in Atherstone, Warwickshire, with additional ATMs set to be tested, as announced by Cash Access UK. As local bank branches continue to diminish in number, these machines aim to ease the burden on small business owners who often need to travel significant distances to deposit their cash earnings.
Martin McTague, national chairman of the Federation of Small Businesses (FSB), stated, “The decline of the bank branch network has left many without vital services, particularly the ability for small business owners to securely deposit their daily takings without closing their operations early or traveling long distances.”
He emphasized that “the ability to deposit in a super-ATM that serves multiple banks is an important innovation and could make a significant difference alongside the accelerated rollout of banking hubs and the maintenance of Post Office counters.”
These new ATMs, connected to the Link ATM network, have been installed in collaboration with NCR Atleos and Note Machine. They will accept cash deposits from customers of Bank of Scotland, Barclays, Halifax, Lloyds, NatWest, Royal Bank of Scotland, and Ulster Bank.