In a significant move to streamline its banking operations, Sainsbury’s is divesting its ATM business.
- The sale to Brink’s Company NoteMachine involves 1,350 ATMs across the UK.
- Customers will continue to enjoy free cash access with no change in service.
- The transition of ownership aims for completion by May 2025.
- This decision follows Sainsbury’s earlier sale of its banking arm to Natwest Group.
In a notable shift to refine its focus on core banking operations and reduce costs, Sainsbury’s has announced the sale of its ATM business to NoteMachine, a leading ATM operator in the UK. This strategic move will see NoteMachine taking over the ownership and management of around 1,350 ATMs spread nationwide, reflecting Sainsbury’s ongoing efforts to optimise its financial services.
The agreement ensures that, despite the change in management, all existing ATMs will remain operational at their current locations. Importantly for consumers, the transition guarantees continued free access to cash services, maintaining the status quo of ATM usage for Sainsbury’s customers. This aligns with both companies’ commitment to providing uninterrupted and accessible financial services.
With the completion of this transition anticipated by May 2025, this partnership is structured to include a shared commission income stream for Sainsbury’s. This step is a continuation of Sainsbury’s strategic realignments, notably following its previous agreement earlier in the year to sell a substantial portion of its banking interests to Natwest Group.
Simon Roberts, Sainsbury’s chief executive, expressed satisfaction with the arrangement, noting that the change would simplify the organisation’s banking structures while ensuring the maintenance of essential customer services. He affirmed the selection of NoteMachine as the suitable partner, highlighting benefits for both the company and its clientele.
Echoing this sentiment, NoteMachine’s chief executive, Steve Makaritis, conveyed enthusiasm about the partnership. He emphasised that this agreement supports NoteMachine’s objectives of enhancing banking accessibility and convenience. Makaritis noted the commitment to innovation in financial services, underscoring the importance of this collaboration in extending financial service access throughout the UK.
This strategic divestment signifies Sainsbury’s continued focus on simplifying its banking operations while ensuring customer service consistency.
