Menu

£11.75 Billion To Be Withdrawn From Uk Atms In December(1)

16 December 2015

Analysis(1) by Sainsbury’s Bank suggests that this December approximately £11.75 billion could be withdrawn from LINK ATMs, the UK’s cash machine network– equal to more than £379 million every day during the month.

The supermarket bank, which has over 1,635 free-to-use(3) ATMs across the UK, estimates that the number of cash withdrawals carried out at LINK ATMs in December could reach 173 million – around three million higher than the same time last year(1) and seven million more than in 2013.  It’s predicted that the average value of a cash withdrawal carried out at LINK ATMs during December will be £68.

ATM usage is expected to peak on Friday 18th December, in terms of both number of transactions and total value of cash withdrawn. The Friday before Christmas is the typical peak day for pre-Christmas cash withdrawals; Friday 19th December was the busiest day in 2014 and Friday 20th December was the busiest day in 2013 for cash withdrawals.

The analysis is supported by research from Sainsbury’s Bank which reveals that over a fifth (21%) of people plan to spend more this Christmas than they did last year(2). This is made up of 13% who said they plan to spend a little more than last year and 7% who said they plan to spend a lot more.

The research also found that a third (32%) of people plan to give cash as a gift this Christmas, and a fifth (19%) plan to give gifts or store vouchers.

As a result of the large volumes of cash being withdrawn during the festive season, Sainsbury’s Bank is encouraging consumers to be extra vigilant when withdrawing cash.

Iain Gibson, Head of ATMs at Sainsbury’s Bank said: “With December typically being the busiest month of the year for withdrawing cash, we’re encouraging people to be extra vigilant when they’re using an ATM. Whenever you use one, take your time, don’t count your money at the machine, and put it away safely and out of sight before leaving the ATM.”

Five top tips to keep your details safe when using an ATM:

– ENDS –

Notes to Editors

  1. All figures are based upon LINK transactions, therefore estimates relate only to transactions through the LINK network. All projections for 2015 are Sainsbury’s Bank estimates based on analysis of historical LINK ATM and usage data. About LINK: Every cash machine in the UK is connected to LINK, and LINK is the only way banks and building societies can offer their customers access to cash across the whole of the UK. All the UK’s main debit and ATM card issuers are LINK members – www.link.co.uk.
  2. Sainsbury’s Bank commissioned Opinium Research to survey 2,002 nationally representative UK adults aged 18+ between 1st to 4th December 2015. Opinium Research is a member of the British Polling Council and abides by its rules
  3. For debit card users

For further information, please contact:

Citigate Dewe Rogerson on 020 7638 9571
Lorna Gilmour, Sainsbury’s Bank on 0131 286 0786

This press release is information for journalists only and is not intended to be a promotion to be acted upon by consumers.

Sainsbury’s Bank:

To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre at www.sainsburysbank.co.uk/media

Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.

Sainsbury’s Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury’s Bank plc is covered by the Financial Services Compensation Scheme (FSCS).