Shulou(Shulou.com)11/24 Report--

CTOnews.com September 6 news, the British "Mirror" reported that due to rising costs led to a shortage of funds, a major European ATM operator warned that as many as 70% of the UK, that is, about 37000 fee-free ATM phones may be out of use, consumers may have to pay to use ATM.

It is reported that factors such as rising energy prices and high inflation have led to an increase in the cost of operating ATM machines in recent years, but the fees paid by major British banks to ATM operators have not increased but decreased, which has also led to a growing shortage of funds for operators.

Notemachine warns that 70 per cent (more than 37000 free ATM) could disappear because of rising costs. For pensioners and low-income earners who use cash to maintain their budgets, the news is "very worrying". Experts predict that 7/10 of ATMs are at risk of shutting down or starting to charge for withdrawals.

Although Link, which runs the UK's ATM network, has told operators not to increase fees, operators are being hit by rising costs because of rising inflation and soaring energy prices. To make matters worse, funding has fallen by 10 per cent since 2018.

CTOnews.com has learned that this means that the only free cash machines that are likely to survive are those attached to banks and supermarkets, with the remaining 70 per cent likely to start charging or disappear altogether.

Dennis Reed, director of Silver Voices, said this will hurt not only the older generation, but also the most vulnerable groups in society. Many people "withdraw state pensions in the form of cash and use them within a week," he said. therefore, any way that will be restricted is very worrying. Not only the elderly, but also the poorest sectors of society also rely on cash, which is indeed their main budget mechanism. People like to use cash so that they can better know where it is going. "

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