An ATM machine which deals in £5 notes is to come online in East London.
A cash machine with a difference is to begin operating in East London, ATM operators Bank Machine have announced.
The firm says that it is helping cash-strapped families who only wish to withdraw small sums, by operating a £5-only machine in the borough of Tower Hamlets. Bank Machine hopes that the unusual ATMs will then be rolled out nationwide, the Press Association reports.
Currently, most cash machines only offer notes in £10 and £20 denominations - which, the firm says, is turning off some customers who see £10 as an excessive sum to take out at any one time. Bank Machine also recently launched a Fight for Fivers campaign, as part of its lobbying to introduce more of the small notes into general circulation in the UK.
Ron Delnevo, managing director at the ATM providers, commented: "We're delighted to be able to launch this cash machine ... in Tower Hamlets and are in the process of identifying around 20 more suitable sites both across London and the other major cities in the UK."
He added: "Busy sites in areas where we believe consumers would benefit from managing their budgets with smaller denominations are top of the list…Having fivers in your wallet means less time at sales tills and less fiddly loose change."
Compare current accounts via money.co.uk
