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Category: Cash

Cash

ATM Withdrawals: 30 September

It’s the last day of September and LINK report an ATM peak earlier (12.38) of 6,349 transactions in one minute. However, last week (week ending 27 September) saw a 36% reduction in cash ATM withdrawals compared to the equivalent week last year: Source: LINK Helpfully, LINK produce a graph detailing the reduction in cash ATM withdrawals from 2017 through to […]

Cash

Use of cash for shopping since COVID 19

The PSR report that, in May, a Which study found that nearly half of all people who previously used cash for shopping, now pay entirely with a debit or credit card following the outbreak of Covid 19 and a further 25% have replaced some of their cash purchases with cards. Source: Payments System Regulator and Which UK How have your […]

Cash

How do we access cash?

Last week we covered the 39% reduction in ATM withdrawals – the infographic below helps us complete the picture on how people access their cash. Source: Payments System Regulator. In this breakdown we see that: 80% of cash withdrawals (by value) are via ATM’s. 6% of cash withdrawals (by value) are via branches (over the counter). 2% of cash withdrawals […]

Cash

39% reduction in ATM withdrawals

Latest cash ATM withdrawal data (week ending 23 August) is now available from Link: There were 31.4 million ATM withdrawals last week (this is 20 million fewer than the equivalent week in 2019). There was a 39% reduction in ATM withdrawals compared to equivalent week in 2019. Source: LINK Eight things we should be thinking about as the way we […]

Cash

FCA’s and PSR’s joint approach to Access to Cash

The Payments System Regulator (PSR) state that ‘for many people cash continues to be a vital way of making payments, despite the changes brought about by Covid 19. As High Streets prepare to re-open, more shops will rely on the availability of cash and the ability to access banking services such as deposit facilities to be able to operate.’ Access […]

Cash

Who (really) invented the ATM?

In this week’s subscriber edition of Payments, Payments, Payments we take a look at the invention of the cash dispensing Automated Teller Machine (ATM). It is claimed that the world’s first ATM was unveiled at Barclays Bank in Enfield in June 1967, but the real inventor of the bank cash machine has been a source of dispute for years. Over […]