New Committee established to shape LINK ATM network policies on consumer issues from transparency of charges, access to free-of-charge cash withdrawals and financial exclusion
LINK today held the first meeting of a new Standing Committee on Consumer Issues; created to provide direct and independent input from members representing consumer interests to the governance of the UK’s cash machine network.
The Committee brings together consumer representatives (including Baroness Anne Gibson OBE of Market Rasen, Mrs Margaret Bloom CBE and Nicola O’Reilly from the National Consumers Council) and Members of the LINK ATM Scheme including representatives from the largest high-street banks and from independent ATM deployers.
Ken Andrew, the independent chairman of the Committee said:
“I am delighted to have been able to chair the first meeting of the Committee. The Committee has a vital role to play in shaping the LINK Scheme’s work to address important consumer issues such as access to free cash machines, and ensuring transparency of charges in cases where access to cash can only be achieved through charging machines. The Committee will hold the Scheme to account for the effectiveness of its work on these issues. I would like to welcome and thank the Committee’s independent members for their commitment to this task.”
The LINK ATM Scheme has since 2004 had consumer-focused objectives relating to preserving universal access of all cardholders to all UK ATMs, ensuring full transparency of any charges where these are applied, and protecting secure, reliable access to cash.
The Committee will hold the Scheme to account for its performance against these objectives and will have the right to publish an independent report each year. The Committee’s future agenda will include issues such as transparency of charges, financial inclusion and access to free-of-charge cash withdrawals.
-Ends-
Notes for Editors:
In April 2006, the OFT-chaired Payment Systems Task Force (including HM Treasury, consumer organisations, and representatives of the banking industry) welcomed LINK and its Members’ innovative plans to include direct consumer representation in the LINK ATM Scheme’s governance through this Standing Committee. The full report published by the OFT may be found at http://www.oft.gov.uk/News/Press+releases/2006/69-06.htm.
Baroness (Anne) Gibson of Market Rasen is a Labour Member of the House of Lords, appointed as a life peer in 2000. She has extensive experience in equality, women’s issues and the trade union movement.
Margaret Bloom is an economist and a Visiting Professor in the School of Law, King’s College London. She is a senior consultant at Freshfields Bruckhaus Deringer following her retirement from the OFT in summer 2003 where she was Director of Competition Enforcement for six years. Prior to joining the OFT, Margaret worked in the Cabinet Office and the Department of Trade and Industry.
Nicola O’Reilly is a Policy Officer at the National Consumers Council.
The LINK ATM network connects all but a handful of the UK’s 58,000 free and charging cash machines. The LINK ATM Scheme sets, polices and enforces rules on transparency of charges where these are applied.
Edwin Latter
ATM Scheme Director
LINK Interchange Network Ltd
Mobile: 07974 326 389
elatter@link.co.uk
Graham Mott
Head of Development (Schemes)
LINK Interchange Network Ltd
Mobile: 07974 326 374
gmott@link.co.uk
John Pinniger
Primeword Communications
Tel: 020 7738 6000
Mobile: 07050 052 934
johnpinniger@primeword.com
