The Payment Systems Regulator (PSR) has published a Specific Direction (Specific Direction 8) given to Link Scheme Holdings Ltd, the operator of the LINK ATM system.
The direction relates to the adoption of appropriate policies and measures, and reporting obligations regarding protected ATMs (LINK), and follows a consultation on the draft version of the direction in September 2018.
It is designed to make sure LINK does all it can to fulfil the public commitments it made at the beginning of 2018 regarding the ongoing availability of access to free-to-use ATMs for UK consumers. The PSR requires LINK to fully develop its policies and processes for applying and implementing its public commitments and to report to the PSR on a regular basis. In particular it must, by 31 October 2018 or such later date as the PSR may notify –
- identify all relevant protected ATMs;
- identify the characteristics necessary to effectively run its policies and measures in relation to the Commitment, and
- utilise appropriate and effective systems and mechanisms to do so
The direction came into force on 19 October 2018 and will continue in force until 2 January 2022, unless earlier varied or revoked by the PSR.