ATMs to give out £5 notes to help budgeting

Bank Machine has installed 21 cash machines across Britain that only give out fivers, regardless of how much money is withdrawn.

The group said the move aimed to help get more 5 notes into circulation, while it also enabled people to withdraw smaller sums, which is thought to help them budget. The introduction of the network of free-to-use machines follows a pilot of two ATMs that only dispense 5 notes in London.

The group said the machines were putting about 100,000 5 notes into circulation each month.

Managing director of Bank Machine Ron Delnevo said: "There is cast iron proof that cash – and small denominations in particular – help people to budget, especially now during these financially stretching times."

Chief cashier at the Bank of England Andrew Bailey said: "The Bank has several projects under way to meet public demand for more 5 notes.

"Bank Machine's launch of a network of 5-only ATMs is thus a very welcome move."