News

UK ATM withdrawals drop 37% in 2020

Consecutive coronavirus lockdowns in the U.K. led to a 37% drop in ATM usage in 2020, according to figures published in a reportby ATM cash machine network Link.

As consumers used alternative payment methods such as contactless cards or online payments, ATM transactions fell on average around 10% year-on-year, according to a report in Finextra.

In April 2020, when the UK went into the first national lockdown, ATM transactions fell initially by 68%.

The fall-off in use has been accelerated by the temporary closure of many cash machines for social distancing purposes or in restaurants and theaters that are closed due to restrictions. Free-to-use ATM machines fell from 45,300 in 2019 to 41,700 in 2020. Pay-to-use machines also declined from 15,300 to 12,600.

Source