News item of the week: Regulator cross about ATM closures
We’ve always been concerned about the term ‘free cash withdrawals’, emblazoned on ATMs around the country. It’s not really free, is it? Bit misleading. What they really mean to say is: “free cash withdrawals but only after we’ve creamed off your interest and spread it haphazardly over our crumpets.”
Toasted treats aside, the UK was aghast this week following news from network co-ordinator Link, which announced that more than 250 ‘free’ cash machines are disappearing each month as operators shut ‘unprofitable’ ones.
While only a minor bother for those in built up areas, who probably pay using plastic anyway, a shortfall in ATMs will likely affect those in more remote areas who still conform to the old adage, cash is king. Cue welcome pressure from Hannah Nixon, the Payment Systems Regulator’s managing director, who said:
"The requirements we intend to place on Link will help ensure that Link achieves their commitment to protecting the geographic spread of free-to-use ATMs across the UK."
That’s one hot cross bun!
Read more here – it’s free (!) and doesn’t include silly puns about bread, or people running out of dough.
Comment piece of the week: Four-day week – is this the real life? Is this just fantasy?
Save from the nation’s new found love of wearing socks and sandals OUTSIDE of the house (honestly, wtf), one of the best things about the UK is our trade unions, giving the man the finger in times of unrest, while simultaneously making us groan with discord when we have to wait 37 hours for a train home.
At the end of last week Frances O’Grady, the general secretary of the Trades Union Congress (TUC), announced that advances in technology could result in a four-day working week – without impacting pay – by the end of the century.
Akin to when your correspondent James was promised his 9th birthday party with Ronald McDonald and his good chum, the Hamburglar, this all seems too good to be true. However, in an interesting opinion piece in the Guardian from Gregor Gall, editor of the Scottish Left Review magazine and director of the Jimmy Reid Foundation thinktank, this could be realised under a Jeremy Corbyn-led Labour government. Gall also posits:
“...what will neutralise opposition and make capital out of latent support will be mobilising workers in their hundreds of thousands on the streets and in their workplaces.”
Time to write that placard.
Number of the week: BusinessCloud announces the names of its inaugural 101 FinTech Disruptors
Stoic as we are at Foco, getting a bit of praise every now and again is always nice. Like if you ask the cashier at Sainsbos how THEIR day is going. While you might not want to stand through the gruelling three hour summarisation of their evening plans, it’s nice to be nice, and manners don’t cost a fing.
A resounding glass clink to hardworking disruptors, including Oval Money, Wealth Wizards and Onfido who’ve had their work rightly applauded by BusinessCloud for helping to make people’s financial lives easier.
Quote of the week: Insight #fail
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