20 June 2007
Over a million people in low-income areas will benefit from the installation of 600 free-to-use cash machines, thanks to the Treasury.
Ed Balls, Economic Secretary to the Treasury and John McFall, Chairman of the Treasury Select Committee and Chair of the ATM Working Group, said yesterday that 127 cash machines had already been installed and that 471 sites for some of the remainder had already been found.
In addition, a further 344 locations are now contracted to have a free cash machine in operation, most of them by the end of this year.
Mr Balls commented that having access to financial information and products was important as it enables people to manage their finances better. He added that the new free-to-use cash machines will help individuals on low incomes to access financial services "as easily and cheaply as possible".
The move has been praised by Citizens Advice, with Senior Policy Advisor Sue Edwards stating that it showed real progress in providing vulnerable people on low incomes greater access to free cash machines.
She continued: "The key now is to keep up the momentum and ensure that the poorest areas in the country are prioritised. Local Citizens Advice bureaux will continue working with providers such as HSBC and local authorities to help identify sites for further free cash machines.
"We also look forward to hearing more about the improvements providers are making to their signage on fee-charging machines so that people are fully aware if they are going to be charged for a withdrawal."