Ref: LCO1-084

Proposed Improving Access to Financial Services Legislative Competence Order

Rhodri Glyn Thomas

Pre-ballot Information: Outline Proposed Legislative Competence Order

Outline of proposed Order

To make provision to improve access to Automated Telling Machines in low income communities.

Pre-ballot Information: Explanatory Memorandum

Policy Objectives of the Proposed Order

Numerous communities in Wales have little access to ATMs.

This purpose of this Order is to reduce the vulnerability of low income families to exclusion and debt by ensuring they have the best possible chance of having access to cash machines without facing charges they are unable to afford.  

The costs of provision of free ATMs are prohibitive in some areas. Recent price changes have meant that a single withdrawal has increased to as much as £2.50. The costs can be mitigated by de-rating premises or parts of premises where the ATMs provided need to link to the areas concerned.  In Scotland, The Valuation and Rating (Scotland) Act 1956 (as amended by The Local Government in Scotland Act 2003) provides that automatic telling machines are excluded from the valuation roll where specified criteria are met.