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£11 Billion To Be Withdrawn From Cash Machines This December

22 December 2011

Sainsbury’s Finance estimates that over £11 billion will be withdrawn from UK ATMs this December(1),  which equates to over £354 million a day, £14.8 million an hour or £246,000 a minute. This represents a substantial increase on the £10.3 billion withdrawn from ATMs last December, which was blighted by exceptionally cold weather.

The supermarket bank says it expects the largest volume of money to be withdrawn on Friday 23rd December, which is expected to be one of the most popular days for pre-Christmas shopping.

Sainsbury’s Finance analysed the average monthly amount of money dispensed from its ATMs between 2007 and 2010(1),which reveals that around 9% more money is withdrawn from its cash machines in December than during a typical month. This is due to a 12% increase in the average amount of money withdrawn per withdrawal in December compared to a typical month, as people withdraw more cash than usual for expensive Christmas presents and other purchases.

The supermarket bank has 1,270 free-to-use ATMs across the UK(2).  It estimates that this month, more than 11 million withdrawals will be made using its ATMs, and that approximately £800 million could be withdrawn from its machines.

Alex Blake, Head of ATMs, Sainsbury’s Finance said: “December is traditionally the busiest month in terms of the amount of cash withdrawn from cash machines, and we expect this Christmas to be no different.

“This party season make sure you don’t leave getting your cash to the last minute – why not get your spending money whilst you’re doing your shopping. It certainly beats standing in line in the freezing cold on your night out.”

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For further information, please contact:
Ian Morris / Tom Wilson
Citigate Dewe Rogerson
020 7282 1037 / 2842

(1) Analysis of ATM data between 2007 and 2011
(2) Free cash withdrawals when using a debit card
Sainsbury’s Finance:
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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 Finance 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 Finance recent awards include Best Overall Online Provider, Best Online Pet Insurance Provider, Best Online Personal Loan Provider and Best Direct Home Insurance Provider at the Your Money Awards 2011. It was also named Most Competitive Term Assurance Direct Provider at the Moneyfacts Awards 2011.
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