More than 8,000 cash points switched off as hundreds of bank branches close
Thousands of cash points have disappeared during the pandemic with many not being replaced, new data shows.
Around 8,000 ATMs have been switched off in the past 18 months, according to research by consumer group, Which? – equating to a fall of around 13%.
The vast majority of cash machines were put out of action while the UK was under national lockdown between March and May last year.
Research has also found a total of 801 bank branches closed between the start of the lockdown in March 2020 until restrictions were lifted in July this year.
Another 103 branches are due to close their doors by the end of this year.
The analysis from Which? – based on cash machine data from Link – found there are large discrepancies in the number of ATMs charging for withdrawals in Britain, varying according to different regions.
In the West Midlands, 28% of machines charge users, compared with 19% in the South East.
The research comes as a new survey revealed 57% of people have experienced at least one issue using cash points or finding a bank on the high street.
Around a quarter had a problem using a cash point in the past year – including 17% who said the ATM had run out of cash or was not working.
Millions rely on cash points and are ‘not yet ready’ to bank digitally, says Which?
A further one in eight said a cash point they used had been removed or introduced charges.
Some 43% of those surveyed said they had been affected by bank branch issues including closures and reduced opening times.
A number of high street banks have announced closures in the past 12 months – as bosses point to a rise in online transactions.
But consumer groups are concerned older people and those without internet access could be left struggling.
Which? has urged the Government to do more to protect consumers.
It has questioned when new rules proposed by the Financial Conduct Authority (FCA), to ensure cash withdrawals can be made locally, will be made law.
Gareth Shaw, Which? head of money, said: “These stark figures show the extent of the damage caused by the pandemic to the already fragile cash system, and demonstrate the consequences that this is having on consumers who are trying to withdraw cash.
“While many people can now bank digitally, millions of people are not yet ready or able to do so. It is consumers who are looking to withdraw and spend cash in nearby shops or the high street who will be hardest hit if they are left without a way to access it locally.
“This should serve as a wake-up call to the Government and the FCA. The cash system is continuing to crumble and legislation on safeguarding access to cash must be introduced swiftly.”
A Treasury spokesperson said: “We’ve committed to legislate to protect access to cash across the UK and we’re currently consulting on proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash.”
The co-founders of the Ben & Jerry’s ice cream brand are demanding the brand be given its independence back amid a long-running row with its current UK owner.
Ben Cohen and Jerry Greenfield have written an open letter demanding that it be “released” from its parent firm.
Mr Cohen told Sky News he would give back the money he received in the sale of the business to Unilever in 2000 if it meant the brand could be independent.
Ben & Jerry’s is set to spin off all its ice cream brands under The Magnum Ice Cream Company (TMICC) name in a deal set to be fully completed before the end of the year.
“You’re saying, would I give it back? Absolutely. If we could still have Ben and Jerry’s independent, any day”, he said.
“It seems like the board of Magnum has been Trumpified”, Mr Cohen told Sky News as he protested the “silencing” of Ben & Jerry’s social mission.
Money latest: My parents’ row with P&O Cruises was resolved by audio recording
The consumer goods firm Unilever has never enjoyed an easy relationship with Ben & Jerry’s – a brand known for its activism on many political and social issues.
As part of the original merger deal, an independent board was set up to protect the ice cream brand’s mission.
But a series of disputes have followed.
The most high-profile spat came in 2021 when the US brand took the decision not to sell ice cream in Israeli-occupied Palestinian territories on the grounds that sales would be “inconsistent” with its values.
Ben Cohen in London
Unilever responded by selling the business to its licensee in Israel.
The independent board is currently locked in a legal dispute with Unilever, claiming in March that its then-chief executive David Stever was improperly sacked.
Ben Cohen. File pic: AP
For its part, Unilever has always argued that it “reserved primary responsibility for financial and operational decisions” as owners of Ben & Jerry’s.
In another example of the frostiness between them, an ice cream flavour launched in support of Democrat presidential candidate Kamala Harris went down badly in London.
Ben & Jerry’s claimed Unilever had demanded it stop public criticism of Donald Trump.
Mr Cohen was one of seven people arrested during the Senate protest in May
Ben Cohen himself was arrested earlier this year over a protest in support of Gaza during a US Senate hearing.
He and Mr Greenfield intervened in the ownership row as TMICC briefed investors on their plans at a so-called capital markets day. They say the independent board and many consumers and employees “no longer support the trajectory on which it is set”.
Mr Cohen, who is attending the event to protest, said: “Ben & Jerry’s was founded on a simple but radical premise: that our business could thrive and make outstanding products whilst standing up for progressive values.
“We fought to ensure our social justice mission was protected by Unilever when the company was acquired, but over the past several years, this has been eroded, and the company’s voice has been muted.
“We won’t be silent anymore. Authenticity has always been at the very heart of what we do, and stripping this away risks destroying the very value of Ben & Jerry’s. We urge the board and potential investors to rethink the inclusion of Ben & Jerry’s in Magnum’s future makeup and establish a Free Ben & Jerry’s.”
The new ice cream division, which will also comprise other brands such as Wall’s, is based in the Netherlands and will have a primary stock market listing in Amsterdam.
A spokesperson for The Magnum Ice Cream Company told Sky News: “Ben & Jerry’s is a proud part of The Magnum Ice Cream Company and is not for sale.
“We remain committed to Ben & Jerry’s unique three-part mission – product, economic and social – and look forward to building on its success as an iconic, much-loved business.”
Unilever has also been contacted for comment.
The co-founders of the Ben & Jerry’s ice cream brand are demanding the brand is given its independence back amid a long-running row with its current UK owner.
Ben Cohen and Jerry Greenfield have written an open letter demanding that it be “released” from its parent firm.
Unilever bought Ben & Jerry’s in 2000 but is set to spin off all its ice cream brands under The Magnum Ice Cream Company (TMICC) name in a deal set to be fully completed before the end of the year.
The consumer goods firm has never enjoyed an easy relationship with Ben & Jerry’s – a brand known for its activism on many political and social issues.
Money latest: My parents’ row with P&O Cruises was resolved by audio recording
As part of the original merger deal, an independent board was set up to protect the ice cream brand’s mission.
But a series of disputes have followed.
The most high-profile spat came in 2021 when the US brand took the decision not to sell ice cream in Israeli-occupied Palestinian territories on the grounds that sales would be “inconsistent” with its values.
Unilever responded by selling the business to its licensee in Israel.
Ben Cohen. File pic: AP
The independent board is currently locked in a legal dispute with Unilever, claiming in March that its then-chief executive David Stever was improperly sacked.
For its part, Unilever has always argued that it “reserved primary responsibility for financial and operational decisions” as owners of Ben & Jerry’s.
In another example of the frostiness between them, an ice cream flavour launched in support of Democrat presidential candidate Kamala Harris went down badly in London.
Ben & Jerry’s claimed Unilever had demanded it stop public criticism of Donald Trump.
Ben Cohen himself was arrested earlier this year over a protest in support of Gaza during a US Senate hearing.
Mr Cohen was one of seven people arrested during the Senate protest in May
He and Mr Greenfield intervened in the ownership row as TMICC briefed investors on their plans at a so-called capital markets day. They say the independent board and many consumers and employees “no longer support the trajectory on which it is set”.
Mr Cohen, who is attending the event to protest, said: “Ben & Jerry’s was founded on a simple but radical premise: that our business could thrive and make outstanding products whilst standing up for progressive values.
“We fought to ensure our social justice mission was protected by Unilever when the company was acquired, but over the past several years, this has been eroded, and the company’s voice has been muted.
“We won’t be silent anymore. Authenticity has always been at the very heart of what we do, and stripping this away risks destroying the very value of Ben & Jerry’s. We urge the board and potential investors to rethink the inclusion of Ben & Jerry’s in Magnum’s future make-up and establish a Free Ben & Jerry’s.”
The new ice cream division, which will also comprise other brands such as Wall’s, is based in the Netherlands and will have a primary stock market listing in Amsterdam.
Unilever and TMICC have been contacted for comment.
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