ATM use up by 18% as lockdown restrictions ease

Print

Cash machines across Britain have seen transactions increase by 18%, with an extra £650m withdrawn since 12 April, new figures reveal.

ATM.jpg

New data from Link, the UK’s main ATM network, shows that an extra £200m was withdrawn from cash machines across the UK every week since 12 April.

Link says 250 ATMs mostly located within non-essential retail sites, which were closed in lockdown, are now working again.

However, the figures reveal that ATM transactions are still only at 65% to 70% of where they were just before the crisis.

The most recent data also shows that 65% of people said that they had used cash in the past two weeks, up from 53% in mid-January. The places where consumers are most likely to use cash are convenience stores, supermarkets, and paying friends and family, the research reveals.

In terms of ATM usage, 7% of people used an ATM 2-3 times a week, 19% once a week, 18% once a fortnight, and 18% once a month. Meanwhile, 24% said they used an ATM less often than once a month and 6% said they never used an ATM.

The figures show 15% of people said that they are avoiding cash because of fear of catching or passing on Covid-19, which is 11% lower than before.

In addition, the data reveals that 44% of people said they think that they will use less cash in the future in comparison to before the outbreak of Covid-19, 11% said they think they’ll use it more, and 36% said they will use it the same.

Link’s director of strategy, Graham Mott, said: “This time last year, the UK was under a strict national lockdown, therefore ATM use is up considerably when compared to last April and is at a similar level to July 2020, when things were starting to reopen again.

“Overall, this confirms the ongoing importance of cash for many people and businesses. We know cash use is traditionally higher in hairdressers, pubs, and restaurants. We can see that cash use in pubs is already increasing. Perhaps we will have a better picture when locations that perhaps don’t have beer gardens are able to open as well. Additionally, Northern Ireland, Scotland and Wales are a couple of weeks behind England, so are likely to see increased activity from those parts of the UK too.”