ATM use by consumers has seen a decline of 8 percent in the first four months of 2019 to April when compared to the same period in 2018, a new report published by LINK reveals.
The data from the report ‘Preserving access to cash’ also shows the the regional disparities in ATM use. Largest decline in cash withdrawals was in London (-8.7% ), followed by the South East (-7.9%) and South West (-7.7%).
The smallest decline was in the North East (-3.7%), then Northern Ireland (-4.6%) and Yorkshire (-4.9%).
“These regional variations are important, and LINK will ensure that areas which are not moving away from cash as quickly as others still have their cash access protected,” said John Howells, chief executive at LINK.
The report, which highlights the growing changes in banking and cash use among UK consumers, predicts the reduction in LINK transactions to fall between 9 percent and 10 percent for 2019 as a whole when compared with 2018.
A recent UK Payment Markets report by UK Finance forecast a fall in cash usage from 28 percent of consumer payments in 2018 to only 9 percent by 2028.