LINK, the UK’s cash machine network, has today published its first ever Annual Report as a newly established and regulated payment system operator.
Available to download from the LINK website, the Report includes sections on:
- LINK’s innovative Financial Inclusion Programme, which ensures access to free ATMs in deprived areas;
- the work of LINK’s Consumer Council, which provides advice on consumer issues relating to the UK cash machine network; and
- key statistics on cash machine usage.
Sir Mark Boleat, LINK Chairman, commented: “I am delighted to see the publication of LINK’s first Annual Report. With consumer demand for cash expected to continue for many years, LINK will work to provide universal access to cash for as long as it is needed.”
LINK operates the UK’s cash machine network which connects the country’s 70,000 cash machines. LINK’s role is to ensure UK consumers continue to enjoy world-class, universal access to cash in a safe, convenient and rapid manner. The LINK Scheme is governed by the 38 industry organisations that issue ATM cards and deploy ATMs in the UK.
In 2016, consumers made around 2.1 billion LINK cash withdrawals, amounting to £129 billion. The average withdrawal value is £69. Effectively all of the UK’s 70,000 cash machines are LINK-enabled and 54,000 of these are free-to-use. Less than 23% of all ATMs, less than 16,000, are pay-to-use machines. Pay-to-use cash machines account for less than 3% of the total number of cash withdrawals.
2017 marks the 50th birthday for the cash machine. It was invented by John Shepherd-Barron and was installed in a branch of Barclays in Enfield, north London, in June 1967. www.link.co.uk