Rutland County Sees 50% Drop in Cash Machines Since 2021

New data indicates that Rutland has experienced a 50% reduction in its cash machines over the last three years. An examination of figures from Link, a cash machine network, reveals that one in ten machines nationwide have ceased operation within this identical period. These statistics highlight Rutland as the most significantly affected area in the country, with its number of cash machines decreasing from 18 in June 2021 to nine within a three-year span. Caroline Abrahams, charity director at Age UK, stated that free access to cash is “absolutely vital” for older individuals and characterized these figures as “concerning.” The Link data indicates that approximately 48,500 cash machines were operational across the UK as of June of the current year. This marks a 10% decrease from the 54,000 machines recorded in June 2021. Ms. Abrahams noted that a significant number of older people do not conduct their financial management online. She commented, “The decline in ATMs is concerning, although the new regulations recently introduced by the Financial Conduct Authority (FCA) should protect access for the vast majority of people.” She further expressed, “We hope that the government will continue to monitor the situation and will be able to act if necessary.” Regulations from the FCA, implemented in September, mandate that banks must give greater consideration to local communities prior to closing a branch. Additionally, firms are required to assess the need for further services before deactivating a cash machine. The analysis indicates that cash machines imposing a fee are being removed at a significantly higher rate compared to those that offer free transactions. Between 2021 and 2024, over 20% of cash machines that charge a fee ceased operation, in contrast to 6% of free-to-use machines.