Huge fall in withdrawals from cash machines

CASH machine withdrawals plunged by up to 91 per cent at peak of lockdown, new figures show.

The extent to which withdrawals have fallen during the pandemic has varied widely across the UK, analysis by ATM network Link reveals. On average, there was a 60 per cent fall in the volume of ATM withdrawals in April, with some rural areas as well as city centres recording the biggest drops.

Link compared ATM withdrawals in April 2020 with April 2019 across parliamentary constituencies. It found that the Cities of London and Westminster saw the biggest fall, with withdrawals shrinking by 91 per cent. Glasgow Central recorded the next biggest decline, at 82 per cent.

Westmorland and Lonsdale, which covers parts of the Lake District and the Yorkshire Dales, was also in the top five places with the biggest declines in cash withdrawals, at 81 per cent. The smallest declines were in Liverpool

Walton and Birmingham Hodge Hill, which both saw 43 per cent falls.

Link added that, more recently, ATM withdrawal levels have recovered to some extent compared with April, and are now down generally across the UK by around 45 per cent compared with a year ago.

Nick Quin, Link’s head of financial inclusion, said: “Unsurprisingly, cash use fell during the lockdown; however, we shouldn’t rush to the conclusion that all roads lead to a cashless UK.

“Digital payments do not work for all consumers at all times and it is the most vulnerable that are often most reliant on cash. Link believes that, to safeguard free access to cash in the longer term, legislation is needed and we welcomed the Chancellor’s Budget commitment to legislate on this issue.”