ACS has condemned a move from LINK, which has today confirmed that it will reduce the interchange fee for card transactions by 5p over the next four years.
ACS chief executive James Lowman said: “Banks have been cutting back their own branch networks, and now they are reducing the interchange fees that fund the network of ATMs provided by retailers and private companies in places that banks have abandoned. We are concerned that this will lead to a reduction in the number of ATMs, and their reach and accessibility for all types of communities.