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Cash still king for UK consumers

Paula John
Written By:
Paula John
Posted:
Updated:
04/09/2015

The number of cash machines in the UK has hit a record high.

 

 

According to figures published by New LINK, the UK’s cash machine network, the number of ATMs in the UK reached 70,180 in July, surpassing 70,000 for the first time.

It claims that the growing number of cash machines indicates that cash still plays a vital role in the UK economy.

The toal amount of cash withdrawn from ATMs in July 2015 was 4% higher than the previous July – £11.3bn compared with £10.9 billion a year earlier.

In total in 2014 ATMs were used to withdraw £189bn in 2.8bn transactions.

50,000 of the UK’s ATMs are free to use.

John Howells, chief executive of LINK, commented:

“Despite cards, contactless payments and digital payments becoming ever more popular, our latest figures show that cash still has a very important place in our purses and wallets. In fact, 47 million UK adults, or 92% of us, used a cash machine in the UK last year.

“With cash machine numbers at a new record high of 70,000, LINK is committed to continuing to make sure everybody has safe, reliable and easy access to their cash.”


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