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300th fiver-only ATM launches

Bank Machine, part of Cardtronics Inc., has recently launched its 300th fiver-only ATM.

GENERAL MERCHANDISE

300th fiver-only ATM launches

Bank Machine, part of Cardtronics Inc., has recently launched its 300th fiver-only ATM.

The 300th machine will be sited at East Croydon station, Greater London, alongside two regular ATMs and is set to be the busiest fiver-only machine of the entire network, dispensing well over 50,000 fivers every month.

Bank Machine is still the only ATM operator with machines offering only fivers.  The free-to-use fiver-only sites span high streets, hospitals, student unions and areas of low income.  East Croydon is the first train station to receive a fiver-only machine.

The fiver-only ATMs have proven very popular with the public, with latest figures revealing:
• Transaction numbers double at key sites
• Over 50% of transactions are £10 or less
• More than 3 million fivers will be dispensed across Bank Machine's  network in April 2011
• Bank Machine's network of ATMs will issue c.75million fivers in 2011

Bank Machine MD Ron Delnevo comments: “The response from the retail trade has been fantastic.  With more fivers appearing in tills, we know that our fiver-only ATM customers are spending their cash in local stores.  With the obvious financial benefits for retailers in cash transactions, which avoid the hefty admin fees levied by card issuers, we know the growth of the fiver-only ATM network will have the full support of the retail community."

Bank Machine is continuing the expansion of the fiver-only network and the company now plans to have 400 machines installed by June this year, with sites already spanning Axminster to Aberdeen. The first fiver-only machine was launched in 2008 in East London.

Bank Machine is taking over the running of all three machines at East Croydon station as well as a number of other key sites for Southern Rail, including Brighton. 

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