ATM fees paid in Scotland have doubled in a year

Fees paid by Scottish consumers to access their cash at ATMs have almost doubled from £5 million in 2018 to £9.5m in 2019, a report has revealed.

More than 8,700 free ATMs have closed in the UK since changes to how the Link cashpoint network is funded were brought in in January 2018.

Meanwhile, banks have seen savings of £11m, due to cuts to the ways Scottish ATMs are funded and a lack of ATM availability.

The study from by Which?, using data from cash machine network firm Link, found that UK-wide, the amount paid by consumers to withdraw cash jumped by £29m to £104m last year - as many free machines vanished or were converted to charge fees.

Gareth Shaw, head of money for Which?, said: “Massive cuts to the UK’s bank branch and cash machine networks have been highly lucrative for the big banks - but highly costly for millions of consumers. Entire communities have been cut off from cash or forced to pay hefty fees to access their own money.

“Banks must take greater responsibility for ensuring customers are supported to make the transition to digital if branches close and that those who are reliant on cash are not left behind by changes to the banking landscape.”

More than 8,700 free ATMs have closed in the UK since changes to how the Link cashpoint network is funded were brought in in January 2018.