UK banks secure cuts in cash machine network costs

LINK, Britain's main cash machine network, announced cuts in the fees it charges card issuers, backed by measures aimed at making it more attractive to install free-to-use machines in less populated and poorer parts of the country. LINK, which banks such as HSBC, Barclays, Lloyds and Royal Bank of Scotland use, came under pressure this month from lawmakers to avoid price cuts that would make it uneconomic to put machines in rural areas.
Banks have closed thousands of branches in recent years as more people bank online and use "contactless" cards rather than cash to pay for small purchases. LINK said it will do "whatever it takes" to retain free access to cash for all communities.