Sainsbury’s has sold its ATM business, comprising around 1,370 cash machines, to NoteMachine to provide end-to-end ATM managed services. The deal will provide a shared commission income stream while further simplifying Sainsbury’s core banking business and reducing costs
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Sainsbury's- Sainsbury’s has sold its ATM business, comprising around 1,370 cash machines, to NoteMachine to provide end-to-end ATM managed services
- The deal will provide a shared commission income stream while further simplifying Sainsbury’s core banking business and reducing costs
- All ATMs will remain open and in position, meaning customers will continue to receive convenient, fee-free access to cash
Sainsbury’s has announced the sale of its ATM business to NoteMachine, a Brink’s Company and one of the UK’s leading ATM operators.
Under the terms of the deal, NoteMachine, a Brink’s Company, will assume ownership and management of Sainsbury’s ATM business, which includes around 1,370 ATMs nationwide. All ATMs will remain open and in position at the existing sites, meaning customers will still receive convenient, free access to cash, with no change to how they currently withdraw their money.
The long-term partnership and transition of ownership is expected to be completed by May 2025, providing Sainsbury’s with a shared commission income stream while further simplifying its banking business and reducing costs.
The sale marks another milestone in the ongoing transformation of Sainsbury’s Bank after Sainsbury’s announced a phased withdrawal from its core banking business in January.
Simon Roberts, Chief Executive at Sainsbury’s, said: “We are really pleased that we can keep offering our customers free access to cash at all of our existing locations while also simplifying our banking business and reducing our costs. We’re confident that NoteMachine is the right partner for us and our customers.”
Steve Makaritis, Chief Executive Officer for NoteMachine, a Brink’s Company, said: “NoteMachine, a Brink’s Company, is a leading provider of ATM managed services and innovative banking solutions. This agreement aligns perfectly with our mission to make banking easier, more convenient and accessible for all. By expanding our ATM network, we are taking another step toward providing exceptional service, whether in urban or rural areas.
“We are excited to be working with Sainsbury’s to continue to provide this valuable service across the UK as we strive for continued access to cash and other banking options. We look forward to building on the strengths of both companies as we continue to innovate and enhance the way customers access financial services.”
Source: Sainsbury’s
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