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Ban on ATM fees sought by Scotland's Labour party

October 25, 2018

The Scottish Labour party has called for Chancellor Philip Hammond to include a ban on ATM fees in the nation's next budget.

The party has promised to implement new laws allowing the Payment Systems Regulator to ensure that the machines are free to use.

According to a report by The Scotsman, the party believes that such a ban would stem the loss of cash machines across Scotland, which is currently losing free cash points at the rate of one per day.

Additionally, Labour argues that preserving cash machines will help to promote trade on Scotland's high streets.

"When ATMs and bank branches disappear, lending to small businesses decreases, footfall on the high street goes and the risk of financial exclusion grows," Ged Killen, a Scottish Labour MP, reportedly said. "If we are serious about financial inclusion and economic development outside metropolitan areas, we should seek to protect the services people rely on."