Cash Machines
Debate between Earl of Courtown and Lord Naseby
The Earl of Courtown (Con)
My Lords, the Government recognise the importance of free access to cash and so have launched the Joint Authorities Cash Strategy Group, bringing regulators together to ensure comprehensive oversight of the overall cash infrastructure. The government-established Payment Systems Regulator has powers to regulate LINK, the scheme that runs the UK’s largest ATM network. The Payment Systems Regulator is holding LINK to account over its commitment to protect the broad geographic spread of free-to-use ATMs in the UK.
Lord Naseby (Con)
I am grateful to my noble friend for that quite full Answer. I have had extensive representations on this from Which?, Age Concern, the Association of Convenience Stores and about half a dozen other companies. Is not the nub of the problem twofold? First, convenience stores and places such as garages have to pay business rates on through-the-wall ATMs; secondly, free use of ATMs is being withdrawn because of adverse changes in the ATM interchange fee. In this situation, will my noble friend undertake to make representations to the Chancellor on this aspect of business rates and ask the regulator to sort out the situation on the interchange fees so that the number of free ATMs does not continue to decline but is put back on a full basis to meet the needs of all our rural people in particular?
The Earl of Courtown
My Lords, I understand the concerns my noble friend has expressed. At the moment there are 45,000 free-to-use ATMs, which represent 75% of ATMs. This is 13% higher than it was a decade ago, although I am aware there has been a fall during that period. I will draw his comments on business rates to the attention of my colleagues in the department.