New rules are to come into force that could change the way that we all access our cash from ATM machines.
Cashpoints are closing down at a rate of around 300 every month, according to Which?, and now it looks like it could soon be harder to withdraw cash for free in a lot of places.
This change is because from 1 July, the fee for each withdrawal that banks pay to ATM machine operators is to be cut down. This fee, known as the interchange rate, is about 25p, but is due to be reduced gradually to about 20p in the next few years.
This seems like it should be pretty inconsequential, but it will actually mean that many cash machines simply aren't viable to run any more. It is thought that this will be responsible for more people being charged to get money out.
Link, the company that is responsible for the UK's network of ATM machines, said that there would be "a modest decline in the number of ATMs in areas where they are heavily concentrated but with no diminution in the overall geographical coverage."
The study found that 1,500 machines have shut down between November 2017 and April 2018, which is a lot more than the usual rate.
Alongside bank branch closures across the country, this could hit rural communities hard if it continues.
Which? money editor Harry Rose said: "With hundreds of cashpoints closing every month, we have serious concerns that, far from protecting consumers' access to cash, Link's plans risk destroying it.
"These cuts could see millions of people who rely on cash in their daily lives struggling through these closures - with severe consequences for many communities and businesses.
"The impact of these cuts is already clear - with machines closing at a frightening pace.
"The regulator must act now to stop further closures and ensure that consumers aren't suddenly stripped of their access to cash."
Link's spokesperson said: "Over the last 10 years cash payments have fallen by 33 percent. During the same period free ATM numbers have grown by 18,000 (50 percent).
"This disconnect is not sustainable and needs addressing now to protect Link and future access to cash for consumers.
"Which? has suggested that ATMs have fallen by 1,500 in the period between November and April, however Link can confirm that during this period the number of free-to-use ATMs actually increased.
"More importantly, coverage of free-to-use machines improved over this period as forecast by Link, with the net number of postcodes with free access across the UK increasing by five, including one in Scotland."
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