Statistics show that the number of both free and charging ATMs in the UK increased over the past year. Over 600 new non-surcharging ATMs were installed in the twelve months to June 2005, while the number of charging ATMs increased by around 3,500. The proportion of cash withdrawals attracting a surcharge remains at less than 3%.
With effect from 1 July this year, LINK has had rules in force which require all ATMs which charge a fee for cash withdrawal to identify clearly that a charge will be made . The requirements include signs of minimum size and visibility on the outside of the ATM, as well as notices on the screen of the ATM.
These rules demonstrate the industry's commitment to transparency of charging and are part of the real progress made by the industry to ensure consumers are properly informed of any charges. Compliance with these rules should ensure that cash machines which do charge are easily identified before they are used.
As well as compulsory warnings of charges, all LINK members are welcome to label their ATM machines to indicate where cash withdrawals are free. Many members have had such signage in place for some time.
LINK arranges independent surveys of compliance with its rules, and acts to ensure compliance where shortfalls are observed. Members of the public are welcome to report incidents of non-compliance to LINK, which will follow-up all such enquiries.
Further data on the trends in the number of ATM transactions which attract a charge, and the number of charging machines may be found on the LINK website - click here for more information.
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Information for Editors
LINK Interchange Network Ltd is the Company that provides electronic transaction management services on behalf of the UK 's largest financial institutions and other commercial organisations. The Company manages the Card Scheme and provides the technical and commercial services, including arranging settlement, which make ATM sharing possible on the significant scale now seen. The LINK ATM network is the world's busiest shared ATM network with over 55,000 cash machines deployed and over 101 million LINK-enabled cards in issue. The Company processed and settled over 2.5 billion shared transactions during 2004. It also manages transactions for the basic bank accounts that form part of the Post Office's universal banking services programme and has implemented an ATM prepay top up service on behalf of mobile phone operators. The Company is pursuing opportunities to use its proven, secure and reliable network infrastructure to support the development and implementation of wider transaction management services including the aforementioned services.
