Link (stylised as LINK) is the UK’s main ATM network, which allows consumers to withdraw cash from ATMs which do not belong to their bank. It is the largest

interbank network An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belo ...

in United Kingdom. It is a not-for profit organisation and is regulated by the

Bank of England The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one ...

Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financi ...

and Payment Systems Regulator.

Network

Link is made up of 32 member organisations. These include high street banks (such as

Barclays Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...

HSBC HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

Lloyds Bank Lloyds Bank plc is a major British retail banking, retail and commercial bank with a significant presence across England and Wales. It has traditionally been regarded one of the "Big Four (banking)#England and Wales, Big Four" clearing house ...

and

NatWest National Westminster Bank, trading as NatWest, is a major Retail banking, retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the Corporate merger, merger of National Provincial Bank and We ...

) and building societies (such as Nationwide and the

Coventry Building Society The Coventry Building Society is a building society based in Coventry, England. It is the second largest in the United Kingdom with total assets of more than £62 billion at 31 December 2023. It is a member of the Building Societies Assoc ...

), the

Post Office A post office is a public facility and a retailer that provides mail services, such as accepting letter (message), letters and parcel (package), parcels, providing post office boxes, and selling postage stamps, packaging, and stationery. Post o ...

and independent ATM operators. The network connects around 48,000 cash machines, meaning virtually every single cash machine in the United Kingdom is connected to Link. As of 2023, there were about 38,500 free to use cash machines and 11,000 cash machines that charge for withdrawals. Typically, around £1.6billion is withdrawn from Link ATMs each week. The average withdrawal is around £82 and the average UK adult withdraws around £1,500. In the UK, around 90% of cash withdrawals are made from cash machines. The Link network infrastructure is operated by

Vocalink Vocalink is a payment systems company headquartered in the United Kingdom, created in 2007 from the merger between Voca and LINK. It designs, builds and operates the UK payments infrastructure, which underpins the provision of the Bacs payment sy ...

, a company formed in 2007 by the merger of Link Interchange Network Limited and Voca Limited. The Link cash machine scheme is a separate entity which is run by the scheme members. The CEO is John Howells and the Chair is Sir Mark Boleat.

Financial Inclusion

Link runs a financial inclusion programme to protect cash machines in some of the most remote and deprived areas of the UK. This was first designed and set up following work with the Treasury Select Committee under the chairmanship of Lord McFall in 2006 and has developed and expanded since Link has committed to protecting the geographic spread of ATM provision and it established the Link Consumer Council to provide advice on consumer issues related to cash. Link’s financial inclusion programme works to subsidise the provision of free to use cash machines to ensure access to free to use ATMs in deprived areas. The subsidy is paid via an interchange premium of up to £2.75 from Link and is available to deprived areas that do not have a free ATM within a kilometre from the nearest free to use ATM. These subsidies cost around £1.5m each month. Over 3,400 priority areas across the country have benefited from new free to use ATMs as a result of this initiative. In October 2019, Link launched a scheme allowing any member of the public to request an ATM in their community. To date, more than 160 locations have benefited from a new free to use cash machine.

Banking hubs

In 2021, following an agreement from the banking industry through the Access to Cash Action Group, any community facing the closure of a core cash service, such as a bank branch or ATM, has its needs independently assessed by Link. In this role, Link will then determine whether a new solution should be provided to meet that community's cash needs. Link will commission services to meet the cash needs of the community as a whole. This process is also open to communities that have historically lost existing cash services. Banking hubs are delivered by Cash Access UK Lt

References

External links

* {{Interbank networks Interbank networks Financial services companies of the United Kingdom 1985 establishments in the United Kingdom

Network

Financial Inclusion

Banking hubs

See also

References

External links