“Super-ATMsâ€: 8 Years Late AND Thousands Needed NOW
Posted on: 10/06/2024Here’s the reality of this announcement.
Firstly, LINK has had a “super-ATM” cash deposit transaction available to be used by banks since 2016.
It has never been used.
So an 8 year delay.
Procrastination is an art form in UK banking.
Secondly, this article talks about Cash Access UK hoping to have 100 “super-ATMs” installed by the end of 2024.
A whole hundred?!
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 .
Procrastination is an artform in UK banking.
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 worlds first “cashless society”.
The General Election means that nightmare has been averted.
It is highly unlikely that the new government elected on July the 4th will tolerate procrastination.
The Payment Choice Alliance will be pressing the new government to ensure more than 1000 bank hubs are opened by the end of 2026.
If you think that is impossible, take a look at the fact that a single US bank - JPMorgan Chase & Co. -is opening 500 new branches and refurbishing 1700 by the end of 2026. Cash Access UK has no bank hubs to refurbish, so 1000 openings should be easily achievable IF there is a will to do so.
The target for “super-ATMs” will be more than 2000 by the end of 2026.
This is, of course, in addition to the UK Payment Choice Act, which will become law before the end of 2025.
By the end of 2026, both “cashless” and procrastination will be things of the past. CHANGE.
Isn’t it WONDERFUL!
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