Money News
11th August 2008
UK's first £5 cash machine set to open
The first-ever cash machine in the UK to dispense only £5 notes is set to open in London's East End.
Situated in Roman Road, Bow, the ATM is aimed to helping poorer consumers manage their money more effectively.
Bank Machine, which operates the device, then plans to install a network of the ATM's nationwide in areas where the demographic make-up is less well off than average.
Ron Delnevo, managing director of the company, said: "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.
"Busy sites in areas where we believe consumers would benefit from managing their budgets with smaller denominations are top of the list."
He added: "Having fivers in your wallet means less time at sales tills and less fiddly loose change."
Bank Machine is currently spearheading a campaign called the Fight For Fivers which aims to get more £5 notes in circulation.
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