ATMIA Europe Asks The UK Payment Systems Regulator To Act To Safeguard Payment Choice In The UK!

The UK Payment Systems Regulator (PSR) asked for responses to some issues relating to ATMs and cash.

As ever, ATMIA Europe was ready, willing and able to respond speedily and robustly!

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Question 1 ATMIA Europe Response.

 It is very disappointing that some key issues appear not to have been addressed in the reported research funded by the PSR.

Why, for example, were those interviewed not asked whether they preferred to be able to go on using cash? This question would have addressed  the fundamental issue: do the public still want Payment Choice.

Also, why were those interviewed not asked if they favoured businesses that accept cash? The research claims only a small percentage of people did not complete the transaction when faced with non-acceptance of cash BUT eg how many would use that business again?

Further, the question on whether people would pay 20p for an ATM cash withdrawal is ill-conceived. People will NEVER say they are willing to pay for a service they have historically enjoyed free, basically whatever the price. 

Also, 69% “preferred” using cards according to the research findings but precisely WHY? eg because they have found more and more businesses refusing cash?

Question 2 ATMIA Europe Response

It is irrelevant how many people solely rely on cash. The fact that there are some is the crucial issue.

The trend towards using digital is also irrelevant. When cars were invented, there was a trend away from bikes and horses. Did society reach a conclusion at that time that bikes and horses should be eliminated? It is strong vested-interests who are pushing this debate on the future of cash, because they crave a cashless society, whatever the wishes of the pubic.

We still have bikes and horses today - and we must still have cash for the same reason. CHOICE.

 Question 3 ATMIA Europe Response

Of course the public believe that ATMs are the best way of accessing cash - because they ARE!

Some of the alternatives can augment ATM Cash services but NEVER replace them.

The average free-to-use UK ATM dispenses around £300,000 each month. In a local community, what alternative can provide even a fraction of that cash?

NONE.

Stop looking for “alternatives” and start ensuring LINK members provide a proper service in every community, including cash deposit ATMs.

The research claims most businesses deposit cash at bank branches BUT branches are heading towards extinction, so deposit ATMs are vital. We need them now, starting in 2019.

LINKs published data demonstrates that every adult in the UK, on average, uses an ATM once a week. In a community with 2000 adults, that means there will be, on average, 8000 ATM cash withdrawals per month. LINKs own figures again indicate the average free-to-use ATM provides  around 3500 cash withdrawals a month. 

Therefore 8000 cash withdrawals require 2 ATMs, especially because there will be inevitable cash outs and mechanical failure.

These are the service standards LINK members should reasonably be expected to provide, funded by a separate transparent cost-based interchange for every ATM transaction set.

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As you can tell, ATMIA Europe will never rest in our quest for Payment Choice for EVERYONE in Europe!