Analysis(1) by Sainsbury’s Bank suggests that this December approximately £11.75 billion could be withdrawn from LINK ATMs, the UK’s cash machine network– equal to more than £379 million every day during the month.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ATM usage is expected to peak on Friday 18th December, in terms of both number of transactions and total value of cash withdrawn.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As a result of the large volumes of cash being withdrawn during the festive season, Sainsbury’s Bank is encouraging consumers to be extra vigilant when withdrawing cash.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:
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Notes to Editors
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.
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