Post Office to close 600 ATMs as it brings branch ATMs under its ownership

Post Office has announced a £16 million investment programme to transfer ATMs to its ownership.

As the Bank of Ireland, which owns and operates the 2,000 ATMs at Post Office branches, pulls out of the business, Post Office aims to migrate ATMs to its estate by March 2022.

However, only around 1,400 free to use cash ATMs will join the network.

“In the areas where we have been unable to sustainably operate the existing ATMs, customers can still withdraw cash over the counter free of charge and in a secure manner,” Martin Kearsley, banking director at the Post Office, said.

Kearsley added that the network will retain almost 60 commercially unviable ATMs where nearest alternative free to use ATM is a significant distance away.

Post Office will also undertake an ATM replacement programme to ensure the cash machines have the latest cash dispensing technology and security measures.

The firm will also become a member of the LINK network.

“Our estate of Post Office owned and operated ATMs will see postmasters operating some of the most modern and secure ATMs in the market,” Kearsley said.

“For those postmasters at locations which will no longer have an ATM, Post Office will provide support including posters informing their customers that they can carry out their everyday banking needs over the counter. Postmasters are also able to apply to LINK’s ‘Request an ATM’ scheme for an ATM to be installed at their branch,” he added.