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LINK (UK)
Encyclopedia
LINK is a shared interbank network of automated teller machines (ATMs) operating in the United Kingdom
. The network counts 37 member institutions, of which many are various bank
s and building societies
issuing LINK ATM card
s, and the remainder are independent ATM operators who do not issue cards. The network connects 63,000 ATMs
- virtually every ATM in the United Kingdom.
The LINK network infrastructure is operated by VocaLink, a company formed in 2007 by the merger of LINK Interchange Network Limited and Voca Limited. The LINK ATM scheme is a separate entity which is owned (in part) by the scheme members.
In addition to providing the core ATM transaction switching and settlement service to its ATM network members, VocaLink Limited provides outsourced ATM, card and mobile payment services and provides access to Post Office counters for basic banking transactions.
In 2003, LINK co-founded a mobile banking
application called MONILINK
, in a 50:50 joint venture with Morse plc business unit Monitise(sic) . In 2009 LINK's share was bought out by Monitise, though VocaLink continued to provide the technical infrastructure for the service.
LINK also provides a prepay mobile phone top up facility at 50,000 ATMs, and is developing the Faster Payments Service
that launched in the UK in 2008.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. The network counts 37 member institutions, of which many are various bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s and building societies
Building society
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
issuing LINK ATM card
ATM card
An ATM card is a card issued by a bank, credit union or building society that can be used at an ATM for deposits, withdrawals, account information, and other types of transactions, often through interbank networks.Some ATM cards can also be used:* at a branch, as identification for in-person...
s, and the remainder are independent ATM operators who do not issue cards. The network connects 63,000 ATMs
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
- virtually every ATM in the United Kingdom.
The LINK network infrastructure is operated by VocaLink, a company formed in 2007 by the merger of LINK Interchange Network Limited and Voca Limited. The LINK ATM scheme is a separate entity which is owned (in part) by the scheme members.
In addition to providing the core ATM transaction switching and settlement service to its ATM network members, VocaLink Limited provides outsourced ATM, card and mobile payment services and provides access to Post Office counters for basic banking transactions.
In 2003, LINK co-founded a mobile banking
Mobile Banking
Mobile banking is a term used for performing balance checks, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant . The earliest mobile banking services were offered over SMS...
application called MONILINK
MONILINK
MONILINK Limited is the banking service operating in the United Kingdom that gives customers access to their financial information directly from their mobile phones. Created in 2003 MONILINK is a joint venture between Monitise and LINK...
, in a 50:50 joint venture with Morse plc business unit Monitise(sic) . In 2009 LINK's share was bought out by Monitise, though VocaLink continued to provide the technical infrastructure for the service.
LINK also provides a prepay mobile phone top up facility at 50,000 ATMs, and is developing the Faster Payments Service
Faster Payments Service
Faster Payments Service is a UK banking initiative to reduce payment times between different banks' customer accounts from three working days using the long-established BACS system, to near real time...
that launched in the UK in 2008.