How British cities and villages might quickly be with out money machines

Some areas of London and the East of England would have no ATM machines within the next two years if the current trend of closures continues, a report has warned.

South Cambridgeshire and the London suburbs of Ruislip, Northwood and Pinner would have none by June 2026, according to worrying projections from portable card machine company Merchant Machine.

Cash payments fell to a fresh low last year, with only 12 per cent of purchases made with coins and notes, trade body UK Finance warns.

Just 2.6 per cent of people mostly used cash for their spending, while two in five people make only one cash payment each month.

Some areas of London and the East of England would have no ATM machines within the next two years if the current trend of closures continues (File image) 

But three in four people said they still used a cash point last year despite the number of ATMs dwindling.

John Howells, chief executive of ATM network group Link, said although cash usage continues to fall it remains vital for millions of people.

‘Despite people moving away from cash, £1.6 billion a week is still being issued by our network,’ he said.

‘We remain absolutely committed to making sure people can access cash free of charge.’

The city watchdog the Financial Conduct Authority (FCA) yesterday said that from September 18, banks will have to weigh up if local communities lack access to cash services including bank branches and ATMs and to plug significant gaps.

Under the rules the FCA will not be able to prevent a bank branch from shuttering, but it will be able to delay its closure until additional cash facilities such as banking hubs are available.

Sheldon Mills, an executive director at the FCA, said: ‘Three million people continue to rely on cash, even as digital payments become more popular.

‘We’ve acted quickly in response to new powers given to us by Parliament to ensure reasonable access to cash withdrawal and deposits is maintained.’

It comes after new research revealed an estimated 25 million Britons aged 16 and over – 45 per cent – do not take their wallets with them when heading out, relying solely on their digital wallets as a payment method. 

Millennials and Generation Z were found to be the most likely to leave their cards and wallets at home, with 66 per cent and 72 per cent respectively admitting to going out with just their phones. 

Comparatively, only one in four baby boomers – 23 per cent – and one in 10 silent generation members – 11 per cent – said they would feel comfortable leaving the house with only a phone as a payment method, even if it was just for a short period of time.