ATM withdrawals jump on news of new national lockdown

By Liz Wells in Industry News 4th November 2020

Link, the UK’s main cash machine network, has reported an increase in the total value of cash withdrawn since the government announced a second national lockdown across England.

More than £174m was withdrawn on 1 November making it the second busiest Sunday since 15 March, only beaten by the Bank Holiday weekend on Sunday 30 August, when £190m was withdrawn.

The average Sunday through lockdown has been £137m, meaning an increase of 24% on a week earlier.

On 2 November, £238m was withdrawn, making it the busiest Monday since 16 March, and 26% higher than the average Monday since the start of April.

Graham Mott, director of strategy at Link, said: “At the beginning of the first lockdown ATM transactions fell by as much as 60% with some ATMs temporarily closing because they were in locations like shops, garden centres and pubs, or for social distancing.

“We will keep a close eye to see what happens in the next week or so to see whether there is a similar drop off. Cash remains vital and hopefully many of these withdrawals are being used to support community businesses or do some early Christmas shopping.”