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Category: Cash

Cash

Quid notes out – pound coins in

On this day (12 November) in 1984 the BBC reported that the English pound note was to disappear after more than 150 years. News of the familiar green £1 note’s withdrawal had just been announced by the then Chancellor, Nigel Lawson, when he made his autumn statement in parliament. Mr Lawson said the note – popularly known as a “quid” […]

Cash

Have you been to the ATM this week?

Weekly ATM value and volume figures 8 November 2020. Key observations for week ending 8 November: Sunday’s (1 November) ‘dash for cash continued on Monday (2 November) which was the busiest Monday for ATMs since March with £238m dispensed. The ‘dash’ tailed off after a couple of days and week ending 8 November saw the lowest weekly volume of ATM […]

Cash

Latest ATM value and volume figures.

Weekly ATM value and volume figures 1 November 2020. Key observations for week ending 1 November: Sunday saw a ‘dash for cash‘ equating to an 18% increase to £174m in the value of cash taken from LINK ATMs when compared to the previous Sunday. Monday was the busiest Monday for ATMs since March with £238m dispensed. Even with Sunday’s dash […]

Cash

Sunday’s dash for cash

After the announcement of a second lockdown in England on Sunday (1st November) saw a dash for cash with an 18% increase to £174m in the value of cash taken from LINK ATMs when compared to the previous Sunday. Monthly LINK ATM transaction volumes for October were 138million: Volumes have been static over the last four months – after a […]

Cash

ATM Volume and Value Tracker

Weekly ATM value and volume figures 26 October 2020. Key observations for week ending 25 October: Lowest weekly ATM use and amount of cash withdrawn for the last eleven weeks. ATM volumes have reduced last week by a further 1%, a 37% reduction compared to 2019. Cash withdrawn from ATM’s last week has reduced by a further 2%, a reduction […]

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 […]

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Tainted by crime – is it time to say goodbye to cash?

A guest blog by Jonathan Jensen (Twitter: @sevendotzero) The debate around cash has become very vocal recently, especially with the rolling programme of bank branch closures and free to use ATMs closing, leaving swathes of the country without a way to ‘get cash’.  Various arguments are put forward about the importance of access to cash.  Consumer choice. But what does […]

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#FirstFiverDay

Three years ago this weekend the Bank of England issued the polymer £5 note – the first polymer note to be issued by the UK’s central bank. It is estimated that the accompanying “FirstFiver” campaign that encouraged people to donate the first polymer note they received may have raised £12.5m for good causes in 2016. Read more at: https://fundraising.co.uk/2016/11/14/firstfiver-campaign-may-raised-12-5m-says-caf-research/ To […]

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Improved cash supply in Aldeburgh

The closure of Barclays on Aldeburgh High Street earlier this year meant the only 24*7 ATM in town was removed. Thankfully, for those that use cash, the ‘free to use’ Bank Machine ATM remained but was only accessible during Post Office hours. Cashless options abound in Aldeburgh – everywhere takes cards / contactless / ApplePay (even the chemist now accepts […]

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Vertical banknotes in Belfast

Spent the week in Belfast. As you would expect Belfast is as cashless as anywhere in the UK – even down to a 65p bottle of water in Boots. However, Northern Ireland has very cool bank notes so I did indulge in using an Ulster Bank ATM to withdraw a couple of the new vertical bank notes. Not sure how […]

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The #VerticalFiver challenge is on to raise funds for NI charities

Ulster Bank’s vertical five and ten pound notes are now in circulation, and the challenge is on to replicate the success of the #FirstFiver campaign. The brainchild of corporate fundraising consultant and recruiter John Thompson, the #FirstFiver campaign saw £12.5m go to charities across the UK through people taking up the challenge to donate their first new polymer £5 note to […]