News

In 3 Welsh villages, IAD steps up when bank branches shut down

November 11, 2016

Cardtronics U.K., operator of Cashzone ATMs, today officially announced the successful installation of free-to-use cash machines in the Welsh towns of Aberaeron, Betws-y-Coed and Llanfair Caereinion.

Cardtronics worked with local businesses, stakeholders and bank partners to find suitable sites for the new machines following the closing of bank branches in Wales this year, according to a press release.

These ATMs will be crucial for the local communities, as well as surrounding towns and villages, in maintaining access to cash at a short distance, the release said.

"It is vital that we do all we can to ensure that people living and working in Llanfair Caereinion have continued access to cash. Whilst it does not fully replace the loss of the bank, Cardtronics' new cash machine does guarantee a free, 24-hour service for the local community which is near to the centre of town and close to parking facilities," stated Glyn Davies, MP for Montgomeryshire.

The new cash machines illustrate a U.K.-wide trend toward the partnering of high street banks and independent ATM providers to ensure ongoing access to cash for local communities while the U.K. banking landscape evolves.

According to Payments U.K., the number of independently owned cash machines in the U.K. exceeded the number of bank-owned machines as of 2014.

In a previous study commissioned by Cardtronics U.K., research company Populus found that more than half of the U.K.'s small and medium-size high street retailers agree services such as cash back at the POS cannot replace the benefit of having an ATM on the high street.

"These Welsh towns are perfect examples of independent ATM operators, banks, local communities and businesses joining forces to preserve people's access to cash," Tim Halford, managing director of Cardtronics in the U.K. and Ireland, said in the release.

"The town centers are going to keep their 24-hour cash service, which means residents and visitors can rely on having access to their money whenever they need to. At the same time, businesses can be certain their customers will remain loyal to their local areas, knowing that they can still shop and get their money out at the same time."