Edinburgh-based Tesco Bank is renewing its ATM network despite the fact the city suffered the second biggest loss of cash dispensers in the U.K.
Merchant payment provider, Dojo, found that between January 2019 and September 2020 the number of cash machines in Britain dropped from 62,967 to 55,674, a decrease of 7,293, with an average of over 340 machines disappearing from high streets every month, according to a Daily Business report. Tesco Bank’s ATM network accounts for 15% of all cash withdrawals made in the U.K.
York was hit the worst, losing 29% of machines; Edinburgh ranked second with a 24% fall and Glasgow lost 19% of its ATMs.
Tesco Bank has the third largest ATM network in the U.K., with ATMs available and free to use in 3,100 Tesco and One Stop stores across the country. More than 2,000 ATMs, approximately two-thirds of the Tesco Bank estate, will be replaced with newer models.
Tesco Bank is also continuing its policy of installing an ATM in new Tesco stores wherever possible and said it will continue to engage with local communities to explore the role it can play where a lack of free access to cash has been identified.