A reprieve on ATM fee cut

LINK has scheduled fee cuts.

LINK, the UK’s main cash machine network, has scrapped a proposed cut in the fee that banks pay each other when their customers withdraw cash from a rival’s machine.

Concerns were raised by the NFRN over the scheduled 2020 fee reduction over fears it could have made many ATMs unprofitable. The trade group welcomed LINK’s decision to abandon the 2020 change.

However, NFRN National President Mike Mitchelson said that while he was “pleased” that the 2020 cut had been dropped, a reduction from 23.75p to 22.5p will still go ahead in January 2019.