Average UK Cash Withdrawal Rises
Brits are withdrawing more money per ATM visit, with the average amount rising by over £10 to around £80 ($110/€92) in just two years, according to new data from Link.
The BBC reports that since the start of the pandemic, the average number of ATM visits per adult has fallen from three per month to less than two. Despite the higher amount per transaction, average monthly cash withdrawals have reached £157, down from £200 pre-pandemic. The total value of withdrawals across the Link network is presently around £1.6 billion per week, down from £2.2 billion in 2019.
There are marked variations in cash usage across the UK, with areas such as Birmingham, Bradford and Liverpool seeing comparatively higher ATM use while access rates have fallen by as much as 60 percent in wealthier districts of Edinburgh and London. Over the course of the pandemic, the number of free-to-use ATMs has dropped nine percent from 45,000 to 41,000.
Millions still rely on cash, especially in the most deprived areas of the country. It is important we can continue to protect access to cash across the country.