Bristol to lead the way with free cash machines

A group of Bristol based anti poverty groups has announced a partnership with Nationwide Building Society that will take city wide action on free to use cash machines. The building society is to provide free cash machines for low income areas in Bristol and Weston super Mare. These could be in shops, community centres or libraries in areas where people feel safe. The Bristol Financial Inclusion Taskforce coalition is launching a consultation to find out where cash machines are most needed.

There has been widespread concern about the lack of access to free cash machines, particularly in deprived areas and there has been a local campaign by the Bristol Evening Post, the Citizens Advice Bureau and others. One estimate suggests that consumers will pay more than £250 million to get access to their own money in 2007.

The provision of cash machines is one part of a wider financial inclusion strategy proposed by government. The strategy will include expanding the availability of face to face debt advice and the development of a city wide Credit Union.

Carole Crouch, of the Bristol Financial Inclusion Taskforce, said: ‘A weekly withdrawal would typically cost £91 a year, which for the lowest earning 10% of households is a whole week’s income.  If the richest households paid that proportion of their income, the charge would be over £15 per withdrawal.’

Max Beseke, of Bristol CAB, said: ‘There are over 600 cash points in this area, and almost half of them are free. And yet 84 per cent of Bristol’s most deprived neighbourhoods don’t have a free machine in them. That can’t be right.’ He added: ‘ This is a good example of how we can make society fairer for us all by working together.  Local action is crucial but also needs the weight of a national campaign to put pressure on the Government and providers of services. Together we can help the voice of the ordinary person to be heard.’