Central Banking

UK ATM network backtracks on interchange fee hikes

bank-atm

The UK’s largest ATM network has backtracked on plans to cut its interchange fee, citing a significant drop in machine usage.

“Consumers are turning to alternatives to cash more quickly than expected and usage of ATMs is now dropping at 6% per annum. Link will therefore adjust [the] interchange [fee] to maintain free-to-use coverage,” Link chief executive John Howells says.

In January, Link announced a phased 20% reduction in the interchange fee over a four-year period, reducing the amount

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: