Uptake in five pound note ATMs to help student loan spend

Fri, 14 Oct 2011

An increase in the number of ATMs that are able to dispense £5 notes is likely to have a positive impact on helping university goers organise the spending of their student loan.

By using these cash machines, undergraduates can better plan their daily expenditure and would not need to withdraw more cash than they need to at any one time.

The escalation in £5 monetary points has been welcomed by the Link Consumer Committee, as well as the spreading of the free-to-use ATM network into the more deprived areas of the UK.

Dr Ken Andrew, chairman of Link - which processes around one million transactions per hour at peak times - said the group's support for the growth in these machines "has helped to deliver an excellent result and help make cash even more convenient to consumers as part of their day-to-day lives".

There are currently 3,954 of these ATMs in the UK compared to 670 in 2009 - news that is sure to please scholars hoping to get on top of their student finances .
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