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£11.4 Billion to be withdrawn from UK ATMs

£11.4 Billion to be withdrawn from UK ATMs

Sainsbury’s Bank estimates that approximately £11.4 billion will be withdrawn from UK

A Sainsburys Bank ATM

£11.4 billion will be withdrawn from UK ATMs this December

ATMs this December, equating to over £367 million per day.

The supermarket bank says it expects the number of cash withdrawals to increase by 3 million(1) compared to December 2012, taking the total number of withdrawals in the month to around 164 million (1)

Sainsbury’s Bank is expecting ATM usage to peak on Friday 20thDecember, in terms of both number of transactions and total cash withdrawals. The Friday before Christmas is the typical peak for pre-Christmas cash withdrawals; Friday 21st December was the busiest day in 2012 for cash withdrawals.

Sainsbury’s Bank’s growing ATM portfolio has 1,465 free-to-use ATMs across the UK(2). The Bank expects to dispense approximately £915 million from its own machines in December from around 12.8 million transactions.

Iain Gibson, Head of ATMs, Sainsbury’s Bank said: “December is once again shaping up to be a busy time of year for ATMs and this peak in usage will undoubtedly go hand in hand with Christmas shopping. Planning ahead for when you’ll need cash could help to save time queuing in a busy spell – for example, you could collect money from an ATM when picking up your groceries.”

Sainsbury’s Bank reminds customers to always shield their PIN and be vigilant when withdrawing cash.

(1)       All historical figures on ATM usage provided by LINK. All projections for 2013 are Sainsbury’s Bank estimates based on analysis historical LINK ATM and usage data

(2)       For debit card users

The post £11.4 Billion to be withdrawn from UK ATMs appeared first on Payments Cards & Mobile.

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