Sainsbury's sells ATM business
NoteMachine has acquired the retailer’s portfolio of 1,370 cash machines and has formed a partnership to continue providing ATM services.
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.
NoteMachine will assume ownership and management of the retailer’s portfolio of around 1,370 ATMs nationwide. All ATMs will remain open and in position at the existing sites, meaning customers will still receive 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.
“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,” said Simon Roberts, Chief Executive at Sainsbury's
The deal is set to provide the chain with a shared commission income stream while further simplifying its banking business and reducing costs.
This sale marks another milestone in the ongoing transformation of Sainsbury’s Bank after the company announced a phased withdrawal from its core banking business in January.
