Cash machine operator, Link, has reported that free-to-use ATMs are closing at a rate of over 250 per month. Over the five months ending in July, 1,300 ATMs were shut down.

Link has reported that this is the first decline of free-to-use ATMs in over 20 years.

As a result, the Payment Systems Regulator (PSR) is demanding the protection of free cash machines in remote areas.

PSR has requested 2,365 ATMS be kept open. This is because they are over half a mile from the nearest alternative free ATM. But, 76 of those have already closed.

The Independent reports that David Clarke, head of Policy at Positive Money, finds the closure rate “deeply concerning”.

“These closures risk leaving whole communities without access to cash, harming the over two million people who are wholly reliant on cash for their day-to-day shopping.

“Banks have pressured Link to reduce the fees they pay towards the cash network,

“The result has been to make hundreds of machines unprofitable.

“The PSR must urgently step in to prevent any further cuts to the interchange fee, and ensure that a widespread network of free machines is preserved.”