Banks in crisis talks as half of free ATMs under threat

More than half of Britain’s ATMs could disappear from high streets if banks are unable to agree on a new deal to pay for the machines at a crisis meeting being held on Thursday.

Independent ATM companies, which provide 57pc of Britain’s ATMs, say that their standalone cashpoints, which tend to be in rural and residential areas, could become unviable as banks seek to reduce the fees they pay when their customers use them.

Under the current LINK arrangement, customers of any bank can use other banks’ cashpoints for free, as well as cashpoints provided by independent companies such as Cashzone and PayPoint.

Read more: Banks in crisis talks as half of free ATMs under threat