Foreign ATMs gain in popularity
July 13, 2007 by admin
Filed under News, News-Banking
The number of ATMs which can deal in foreign currency will grow, it was claimed today.
According to UK cash machine operator Link, a big cause of this growth will be the convenience of holidaymakers who want to withdraw the relevant cash before they jet off.
Traditionally only found in airports, Link predicts that foreign ATMs will move closer to the mainstream of British life, and will be found on the high street more and more.
Head of planning and development at Link Graham Mott said: “The theory is at the moment that, rather than the person waiting until they get to the airport to get their foreign currency as many people do, they’ll get their foreign currency beforehand, in the weeks leading up to the holiday. Therefore, putting them in the high street or supermarket would do well, as that’s where people are going on a regular basis anyway.”
He added that customers seem to “like the idea” of the expansion, though the company does not receive the exact statistics for customer uptake.
Due to most only having four cash cassettes, it is likely that the high street ATMs will only have the capacity to stock euros and US dollars in future. To Mr Mott, this would not be a problem, as these are the two most popular currencies.
Link’s comments follows Tesco’s recent decision to expand its foreign ATMs from four to 20.
