In response to regulatory changes aimed at ensuring cash access, banks in the UK plan to install coin-enabled ATMs. This initiative follows the Financial Services and Markets Act, which mandates cash services remain available to communities impacted by branch closures. While alternative solutions exist, the inability of existing ATMs to handle coins has prompted banks to work with specialized providers. The first installations are set for mid-2025, with acknowledgment of the logistical complexities involved in managing coin transactions, highlighting the significant changes this represents for the banking sector.
"There is nothing out there really where you can pay [coins] in and take it out in this way. This will be a first to do it at this scale."
"Being able to dispense and deposit coin requires a much higher sophistication of kit, a much bigger space than your general ATM and the cash in transit services become a lot more expensive."
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