New data has revealed that Birmingham Ladywood constituency has 168 free-to-use ATMS, down 36% from 261 only five years ago. [1]

The figures come as the Government u-turned this week on Lords Amendments protecting access to cash. [2]

The reduction is largely driven by the closure of banks and building societies.

Cash transactions promote financial inclusion and are a lifeline for those without access to digital services.

Commenting on the figures, Shabana Mahmood said:

“It’s shocking to see free-to-use ATMs slashed by a third in my constituency.

“This reduction creates cash deserts in communities who depend most on non-digital payments for day-to-day spending.

“While I’m pleased to see the Government finally following Labour’s lead and pledging to protect access to cash in law – their last-minute change of heart doesn’t go far enough.

“Labour would empower the FCA to protect in-person banking services, ensuring no-one is cut off from the services they need.”

ENDS

1. Data from the Association of Convenience Stores and LINK: https://www.link.co.uk/initiatives/financial-inclusion-monthly-report
2. Financial Services and Markets Bill, Lord Amendments 72 to 77 on free access to cash. Bill awaiting Royal Assent: https://bills.parliament.uk/bills/3326