Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent discussions his Department has had with LINK on the interchange rate for ATMs.

The Government recognises that widespread access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government is continuing to engage with the regulators and industry, including LINK, on this issue.

LINK has cancelled its third interchange fee reduction, due in January 2020, and put on hold its fourth reduction, due in January 2021, pending further review.

The Payment Systems Regulator, who regulates LINK, has welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions.