Sainsbury’s has announced a strategic decision to sell its ATM business to Brink’s Company NoteMachine, aiming to streamline its banking operations and cut costs.
- NoteMachine will become the owner of Sainsbury’s 1,350 ATMs nationwide, maintaining customer access to cash with no changes to current withdrawal methods.
- The transition of ownership is set to be finalised by May 2025, expected to provide Sainsbury’s with a shared commission income stream.
- This move follows Sainsbury’s earlier sale of its banking arm to Natwest Group, signalling a phased withdrawal from banking operations.
- Both companies express their commitment to providing accessible financial services across the UK through this partnership.
Sainsbury’s, a leading supermarket chain, has announced its decision to sell its ATM business to Brink’s Company NoteMachine. This move is part of Sainsbury’s effort to simplify its core banking operations and reduce associated costs. By transitioning ownership and management to NoteMachine, Sainsbury’s 1,350 ATMs across the UK will remain operational. The decision ensures that customers will continue to access free cash withdrawals without any changes to the current process.
The completion of this transaction is expected by May 2025. As part of the agreement, Sainsbury’s will benefit from a shared commission income stream, signifying a strategic partnership rather than a complete divestment.
Earlier this year, Sainsbury’s reached an agreement to sell the majority of its banking arm to Natwest Group, reflecting a broader strategy to phase out its banking services. This sale to NoteMachine is yet another step towards simplifying its financial operations.
Simon Roberts, Sainsbury’s Chief Executive, expressed satisfaction with the agreement, stating, “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. We’re confident that NoteMachine is the right partner for us and our customers.”
Steve Makaritis, Chief Executive of NoteMachine, remarked, “This agreement aligns perfectly with our mission to make banking easier, more convenient and accessible for all. By expanding our ATM network, we are taking another step toward providing exceptional service, whether in urban or rural areas.” His statement underscores NoteMachine’s commitment to enhancing customers’ access to financial services across the UK.
Sainsbury’s strategic sale of its ATM business marks a significant step in reshaping its core operations and ensuring customer satisfaction with continued access to cash.
