Impact Of Link Decision To Reduce The Atm Interchange Fee

EDM number 942 in 2017-19, proposed by Ruth George on 20/02/2018.
Categorised under the topics of Financial institutions and Financial services.

That this House celebrates the long-standing availability of free-to-access cash in the UK and the positive impact the availability of cash has on local businesses, high street shops and consumers, especially in rural areas; recognises that the long term sustainability of the existing free-to-access cash network is now under threat, with UK banks no longer willing to pay the true cost of providing this service and reducing the current interchange fees by 20 per cent over the next four years; further recognises that this reduction will make many ATMs unviable, particularly in rural areas which are less cost effective to supply, but which are already underserviced; is concerned that this will disproportionately impact older and low-income groups and small businesses in these areas; and calls on the Government to facilitate the creation of a sustainable model that will maintain and develop the free-to-access cash network across all communities in the UK.

This motion has been signed by a total of 45 MPs.