UK cash machines have never been busier according to research by Sainsburys Bank. They believe almost GBP11 billion has been withdrawn from the hole in the wall in December alone.
Traditional banking has declined, making way for online banking, cash cards and the ATM or cash machine. They provide easy access to cash, the security of PIN protected cards and a wide network from which to access them as the Sainsburys Bank respondents confirmed. Although the use of debit and credit cards are the norm now, December saw a major increase in cash withdrawals compared with other months, driven by the greater need for real money as people go out to bars and cafes. Interestingly too it is amazing how many people need to get nice crisp notes out to pop into Christmas cards as gifts.
It is good to know that cash still has a place in modern society and Sainsburys Bank, with their network of cash machines in all their Sainsburys supermarkets expect that to be the case for some time to come.