"Super ATMs" are being launched across the country as part of an initiative aimed at helping communities impacted by the ongoing wave of bank branch closures.
The first machine is now working in Warwickshire with more ATMs set to be trialed this year by Cash Access UK, an organisation dedicated to improving cash access.
ATMs will offer provide Britons access to cash services, including withdrawals and balance inquiries.
Machines will also allow free cash deposits to customers of Bank of Scotland, Barclays, Halifax, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank.
More banks and building are expected to be join the scheme in the near future.
All "super ATMs" are connected to the Link ATM network and have been set up in partnership with ATM providers NCR Atleos and NoteMachine.
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TSB is one of the banks participating in the wave of branch closures
GETTYHere is a full list of the locations across the UK to receive a "super ATM" in the first stage of the initiative's rollout:
- Atherstone, Warwickshire
- Swanage, Dorset
- Heathfield, East Sussex
- Bourne, Lincolnshire
- Billericay, Essex
- Shanklin, Isle of Wight
- Finchley, North London
- Leigh-on-Sea, Southend
- Chipping Norton, Oxfordshire
- Tonbridge, Kent
- Oxted, Surrey
- Ilfracombe, Devon
- Bradford, West Yorkshire
- Yarm, North Yorkshire
- St. Ives, Cornwall
- Cowbridge, Vale of Glamorgan
- Aviemore, Scottish Highlands.
Martin McTague, the national chairman of the Federation of Small Businesses (FSB), highlighted why the rising trend of bank branch closures has contributed to this latest initiative.
He explained: “The decline of the bank branch network has left many without vital services, in particular the ability for small business owners to deposit takings for the day safely without shutting the small business early or travelling for miles.
“The ability to deposit in a super-ATM that works for multiple banks is an important innovation and could make a real difference alongside the accelerated rollout of banking hubs and maintenance of Post Office counters.”
Consumer watchdog Which?' research found that over 5,800 banking sites have been shut down since 2015. which is the equivalent of 54 every month.
This is the equivalent to 54 per month and experts have warned of the potential impact this "alarming rate" could have on local communities.
Overall, more than half of the bank branches that closed down over this period were open at the beginning of 2015.
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Bank of Scotland is also closing branches ALAMYCash Access UK chief executive Gareth Oakley broke down who can benefit from the rise in "super ATMs".
He said: "Access to deposit-taking ATMs is vital for cash-reliant UK consumers struggling to access basic banking services and it’s just as important that businesses who accept cash can bank it too.”
Sam Richardson, the deputy editor of Which? Money, previously said: "Alternatives like banking hubs could help plug the gaps, but they are being rolled out too slowly, so more must be done to ensure communities get these replacements for their closed bank branches as soon as possible.
"It's vital that the FCA works closely with banks and holds them accountable over decisions to close branches so more people aren't left at risk of being cut adrift.”
