The Post Office is reportedly weighing a bid for Notemachine, one of the UK’s largest independent ATM operators. This potential move could significantly expand the Post Office's cashpoint network across the country.
Notemachine was put up for sale by its parent company, Brink’s, sources indicate. Brink's acquired Notemachine in October 2022 for nearly $180m. The firm operates thousands of cash machines and is responsible for approximately 20% of all cash dispensed in the UK.
A potential deal could complement the Post Office’s existing banking hub model, which aims to replace closed bank branches. This would allow the Post Office to extend its community banking offerings beyond its physical branches, reaching rural and high-traffic areas.
Brink’s announced a $6.6bn deal to acquire global fintech firm NCR Atleos earlier this year. The UK’s competition watchdog flagged concerns that this merger would reduce ATM choices and potentially lead to higher fees for consumers. Brink's stated it would divest its ATM units to secure approval for the merger, with the Competition Markets Authority accepting this proposed remedy in early October.