ATM Tracker

Weekly ATM value and volume figures 14 August 2022.

Key observations for the week ending 14 August 2022:

The volume of ATM Transactions decreased by 29% when compared to the final week before the first COVID lockdown.

  • The volume of ATM transactions decreased by 4% when compared to the previous week in 2022.
  • The volume of ATM transactions decreased by 5% when compared to the equivalent week in 2021.
  • The volume of ATM transactions decreased by 4% when compared to the equivalent week in 2020.

Last week there was a total of 30.3 million ATM transactions which represents a decrease of 1.2 million ATM transactions over the previous week.

In 2022, there was an decrease of 1.5 million transactions or 5% when compared with the equivalent week in 2021.

In the first few months of the year, volumes in 2022 were consistently greater than 2021 reflecting the differing conditions across the two years.

In the second half of April 2021, the easing of restrictions led to a spike in activity at that time and the gap between 2021 and 2022 narrowed to a difference of just 2%. However with indoor hospitality not returning until the third week of May, the early May bank holiday failed to provide any further boost last year. In 2022, however, with all restrictions removed and warmer weather returning, this did boost the volume of ATM Transactions to the highest level seen so far this year and the gap widened again.

This swing was evident again in the approach to the Jubilee weekend – matched this time in 2021 albeit with the bank holiday weekend a week earlier at its normal time.

Last week, the volume of Transactions was again below 2020 as that year was boosted from the first week of the Eat Out to Help out Scheme following the relaxation of the restrictions after the first Lockdown. However it was also just below 2021 as well as activity continued to recover last year through the Summer months.

Source: LINK

Through Lockdowns to Plan B, Plan A and now living with Covid:

This graph shows the impact on ATM Transactions throughout the first year of lockdowns in 2020 and initially at the beginning of 2021 with Lockdown 3.0. This was followed by a gradual increase in volumes in 2021 as restrictions eased throughout the Summer.

From the Summer months onwards activity across both 2020 and 2021 was very closely matched with the exception of the comparison with Lockdown 2.0 in November 2020.

In the first few weeks of 2022 the volume of ATM Transactions continued to track above 2021 but initially well below the pre-pandemic levels seen in 2020. Since the end of March, the overall weekly volume of ATM transactions has been above both 2021 and 2020 given the lockdown restrictions in place for the equivalent weeks in both years.

From mid April the graphs for 2021 and 2022 were beginning to merge as restrictions were reduced in April 2021. Apart from a spike over the early May bank holiday the gap is continuing to narrow following the further easing of restrictions which occurred in May last year.

The volume of transactions in 2022 has remained above those for the equivalent weeks in 2020 until the end of July when the ‘Eat out to help out’ scheme boosted trading in 2020 after the first Lockdown. All 3 graphs have now merged and are expected to be in line over the Summer months with the volume in 2022 currently just dipping below that seen in the previous two years.

Source: LINK

This next graph also shows the trajectory of ATM Transactions with the graph also showing the timing of each lockdown and the differing level of restrictions in place.

Conditions were at their closest over the two years over the Summer with hospitality re-opening at the beginning of July 2020 and with businesses operating under similar restrictions to those currently in place in 2021. The convergence of the graphs shows a consistent level of ATM transactions and value across the two years under these similar conditions.

The two graphs diverged as conditions differed during November but then converged again as similar restrictions were in place across the two years with both years showing the usual seasonal reduction in volumes at the end of the year.

In 2022 the volume of transactions can clearly seen to be increasing throughout each month to date and at the point this graph was produced consistently tracking above 2021 apart from one point in June. When the graph is updated it will show the activity in 2022 just dropping below both 2020 and 2021 with ATM Volumes expected to be closely aligned across all three years through the remainder of the Summer.

Source: LINK

The overall volume and value of transactions had been very subdued throughout each of the Lockdowns compared to pre-pandemic levels as shown in the next graph below. This graph shows the pattern as restrictions began to be eased. Both volumes and values have recovered from the seasonal end of year fall and Plan B restrictions. Volumes at the time the graph was produced are around 70% and values around 78% of pre-pandemic levels.

Source: LINK

The graph below from LINK shows Thursdays’ transactions over the last four years clearly showing the fall in 2020 as the first Lockdown was announced.

Once again the volume of transactions is the same as the last two years for the equivalent day – this seems to be the “new-normal” now.

Source: LINK

The following graph depicts the daily withdrawal value again across the last four years.

The regular pattern of ATM cash withdrawals had been affected by the Jubilee with many withdrawing cash earlier than normal during the week in advance of the celebrations. In the weeks following the Jubilee the pattern has reverted back to normal as shown in the graph below.

The last three years daily withdrawal values continue to be almost identical following the lifting of the restrictions in 2021 and 2020.

Source: LINK

The following graph shows a slight but definite increase in the percentage of balance enquiries. They always rose in lockdowns but is this a reaction to the cost-of-living with more people wanting to check their balances before withdrawing cash?

Source: LINK

LINK, the UK’s cash access and ATM network, has published its latest data showing how people are responding to the cost of living and managing their day-to-day finances. For more than two years, LINK has been conducting regular research to help understand how cash use is changing in response to COVID-19. While most people and businesses are beginning to move on from the pandemic, this research, conducted in June 2022, looks to identify whether these attitudes are changing in the wake of the rising cost of living in the UK.

The research showed that 10% plan to save money by using contactless less and 9% intend to use cash more frequently. For this latter group, the most popular reasons for intending to use cash more frequently were that doing so

  • gives them a better idea of how much they’re spending (63%)
  • helps them to spend less (58%)
  • helps them to keep track of spending (57%)
  • and helps with budgeting (57%)

In relation to cash, 68% of adults in the UK have used cash in the past two weeks to pay for something. This is slightly lower than in February (71%) when the research was last conducted. 

Graham Mott, LINK, Director of Strategy“There really is a digital divide for those who are and aren’t comfortable using digital payments. For some, card and digital payments mean they can track all their spending online or on the mobile banking. Yet, for many, especially those on fixed or lower incomes, there is no better substitute for budgeting to cash. Not everyone has access to cards or digital payments and they know exactly how much money they have when paying in cash for the bus or in the local shop.”

LINK transaction volumes and values in January and February 2021 were affected by the various lockdowns across the UK with the volume of LINK transactions down 46% and values 38%, when compared to January and February 2020. Restrictions were only introduced towards the end of March 2020 and thus although an increase was seen month on month, the actual volumes in March 2021 were still 26% below that seen in March 2020.

The easing of restrictions led to increasing volumes month on month from April 2021 onwards with the monthly volumes also ahead of 2020. In all months since – apart from August where ‘Eat out to help out’ boosted activity in 2020 – there has been an increase in the volume of transactions when compared to the equivalent month in the previous year.

This has continued into 2022 given the relaxation of conditions compared with the Lockdown restrictions still in place for the first few months of 2021.

However, there continues to be a significant reduction when compared with pre-pandemic transactions. The total number of ATM transactions fell from 2608 million in 2019 to 1643 million in 2020 – a fall of 37%. There was a further fall of 7% in 2021 with the total number falling to 1522 million. However the majority of this fall was caused by the comparison with pre-pandemic levels at the beginning of 2020 – volumes fell by 40% when comparing January to March 2020 with January to March 2021. In the remainder of 2021 from April to December the volume of transactions increased by 8% as activity increased as restrictions were lifted.

With the activity in the first four months of 2021 impacted by Lockdown the monthly figures below show volumes increasing by 20% in January 2022, 21% in February 2022, 18% in March 2022, 10% in April 2022, 5% in May 2022 and 1.4% in June and 3% in July – a decreasing trajectory overall as restrictions were gradually lifted last year with the weather perhaps providing a boost for July 2022.

With 144 million transactions taking place in July this shows that many people are still relying on cash and the volume of transactions in July has made it the busiest month since the pandemic began in March 2020.

Source: LINK

Volumes and values however remain significantly below pre-pandemic levels and it seems certain that there has been a fundamental change in how some consumers are using ATMs and cash. However, even with this overall reduction in usage, around £7 billion has been withdrawn each month since restrictions eased at the beginning of the Summer falling back only slightly in the first months of the year which have always been more subdued but back on track in since March.

The value of ATM Transactions fell by 30% in 2020 compared with 2019. Although mainly due to the Lockdown conditions throughout much of the year there had already been a reduction seen in the first 2 months of 2020 with values reducing by 12% when compared with the first 2 months of 2019.

For 2021 the value fell by 32% for January to March when compared to the same period in 2020 but increased by 10% over the remainder of the year as restrictions eased.

The increase for January 2022 compared to January 2021 and February 2022 compared to February 2021 can again be seen given the differing conditions across the two years with values increasing by 17%. This continued into March with values increasing by 16% when compared with March 2021. With restrictions beginning to ease in April 2021 and further still in May the gap narrowed with the value of transactions increasing by just 4% in May 2022 when compared to the previous year.

With very similar conditions in place for June the difference has narrowed further with the value of transactions increasing by just 2% in June 2022 compared to June 2021. The weather in July has perhaps given an additional boost although the growth in value for July 2022 compared to July 2021 is still modest at just over 3%.

Although total values remain well below pre-pandemic levels the average of around £240 million withdrawn a day remains significant and shows that despite an overall reduction in cash use it remains important for many consumers and businesses.

Source: LINK

The following graph highlights the impact of the Lockdowns during the pandemic but also the resilience of the underlying use of cash once restrictions were lifted.

Monthly ATM Volumes from March to June have been very steady this year with very little movement across the months. 2021 and 2020 reflect the increasing transactions as restrictions were gradually lifted.

The volume of transactions in July 2022 were however slightly ahead of 2021 and about 7% greater than in the previous month. Overall July 2022 was the busiest month since the pandemic began in March 2020.

Source: LINK

The following graph shows the quarterly cash withdrawals including on-us where customers use their own banks’ ATMs. The steady decline in usage from 2016 and rapid decline in the pandemic can clearly be seen. However, Q1 2022 is markedly up on the same period in 2020 and 2021 given the impact from the lockdowns during that time.

Source: LINK

The average withdrawal value increased by almost £20 to over £85 during the first lockdown. Non essential trips were discouraged and this led to fewer outings and thus more cash withdrawn each time. With leisure and hospitality closed there were also fewer opportunities for lower value spontaneous cash requirements.

This was reinforced during each lockdown and the average withdrawal has continued to be high ever since as shown in the graph below.

The average ATM withdrawal increased to £80.54 in July, the highest it has been this year and higher than the last two summers as well.  This could be a reaction to inflation increasing the price of goods and services which are paid for in cash.  

Pre-pandemic average cash withdrawal values were around £68, with a boost in December as people took out more cash for Christmas, so this higher average value is a distinct change in consumers’ habits.

Source: LINK


With such a sharp drop in ATM transactions during 2020 a further significant shift from cash to digital may have been the logical expectation for 2021 but the volume of ATM transactions remained remarkably consistent once restrictions were lifted.

This consistency has continued into 2022 and as we approach the Summer months the graphs showing the Volume of ATM transactions across the three years have merged as expected reflecting the easing of restrictions and similar conditions in place.

This shows that although we are unlikely to see the volume of ATM Transactions return to pre-pandemic levels, a considerable number are still reliant on or are choosing to rely on traditional payment methods including cash. Many are also turning to cash to help them budget as they manage the cost of living crisis.

‘Cash is still vital to so many people,’ says Nick Quin, head of financial inclusion at cash machine network Link.  ‘Millions of people are choosing new ways to pay but, last year, on average, every adult in the UK still withdrew almost £1,500 from cash machines across the country.’

This is reflected in the consistent underlying level of ATM cash transactions seen as restrictions were lifted during 2021 and with the trends seen to date this year, we continue to expect to see a similar underlying volume of ATM transactions throughout 2022.

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