Belfast Telegraph

Friday 11 July 2014

ATMs will dispense only £5 notes

An ATM operator has launched a network of free cash machines that only dispense £5 notes

An ATM operator has launched a network of free cash machines that only dispense £5 notes.

Bank Machine has installed 21 cash machines across Britain that only give out fivers, regardless of how much money is withdrawn.

The group said the move aims to help get more £5 notes into circulation, while it also enables people to withdraw smaller sums, which is thought to help them budget.

The introduction of the network of free-to-use machines follows a pilot of two ATMs that only dispense £5 notes in London.

The group said these machines were currently putting around 100,000 £5 notes into circulation each month.

Ron Delnevo, managing director of Bank Machine, said: "Whether you withdraw £50 or £5 at our machines it will all be in £5 notes.

"There is cast iron proof that cash - and small denominations in particular - help people to budget, especially now during these financially stretching times."

Andrew Bailey, chief cashier at the Bank of England, said: "The Bank has several projects under way to meet public demand for more £5 notes.

"One of these aims at encouraging the industry to include £5 notes in their ATMs - the front line of cash provision to the public. Bank Machine's launch of a network of £5-only ATMs across the UK is thus a very welcome move."

The new ATMs will be at locations across Britain, including Manchester, Stroud, Oxford, Cardiff, Portsmouth and Banchory in Aberdeenshire. Hatfield-based Bank Machine operates nearly 3,000 ATMs, including more than 700 that are free to use.

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