The UK’s Link ATM network tests new ‘Super ATMs’ that can accept deposits for multiple banks

The UK recently started a trial of so-called Super ATMs, which are a new breed of cash machines. Their main advantage over older ATM types is that they can accept deposits for multiple banks, becoming much more convenient for the users.

The first machine is already up and running at the time of writing and is located in Atherstone in Warwickshire. However, the country’s Link ATM network will not stop there; instead, it plans to install more ATMs as part of the new trial, as mentioned by Cash Access UK.

The UK Finds An Alternative Way To Deposit Cash

Over the last few years, the UK has seen a gradual disappearance of local bank branches from the high street. The country’s citizens have massively turned to digital banking, so local branches were left without work or a purpose. However, this also put a strain on small business owners, who often had to travel long distances to find an operating branch where they could deposit their cash takings.

Since the country is not willing or ready to completely drop the use of cash, a new solution was needed, and the country seemingly found it in the new type of Super ATMs.

Martin McTague, the national chairman of the Federation of Small Businesses (FSB) stated that the decline of the bank branch network has left many without vital services, once again pointing out that small businesses were the first ones to experience the negative effects of this, without a convenient way to deposit takings for the day safely, without having to shut down early and travel for miles.

“The ability to deposit in a super-ATM that works for multiple banks is an important innovation and could make a real difference alongside the accelerated rollout of banking hubs and maintenance of Post Office counters,” he explained.

The Future of Making Deposits

The new ATMs are connected to the Link ATM network, and they already established several partnerships, such as with Note Machine and NCR Atleos. With this being the case, the new machines will accept cash deposits from customers of multiple banks, including NatWest, Lloyds, Halifax, the Royal Bank of Scotland, Bank of Scotland, Ulster Bank, and Barclays.

If the trials get completed successfully, this will likely become the default new way for businesses and individuals to deposit cash into their respective bank accounts moving forward. More than that, this solution might also be adopted by other nations which may be experiencing similar issues, or hesitating to shut down unused branches in order to avoid this problem.