ATM withdrawals up in Dec, says Link

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ATM withdrawals up in Dec, says Link

Thu 18th Jan 2007

December proved to be a bumper month for cash machine withdrawals with a 7.3 per cent increase on the corresponding period in 2005.

The research carried out by Link, operator of the UK ATM withdrawal network, discovered a record number of withdrawals took place during December with almost 153 million recorded on its machines.

An average withdrawal of £64 was calculated which equated to more than £9.76 billion being withdrawn from Link cash machines.

Graham Mott, head of planning and development at Link, stated: "This was a record year for seasonal cash machine transactions with figures reaching new heights this Christmas. Despite pessimistic predictions about consumer spending, it appears that UK consumers began their Christmas shopping and socialising towards the end November this year."

He added that the last Friday before Christmas continued to be the busiest of the year in terms of ATM withdrawals and they increased on December 2005's figures.

According to the British Retail Consortium, retail sales in central London were up 11 per cent in December on the same month in 2005, along with the record number of cash machine withdrawals, highlighting a strong economy.

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