Cash machines 'increasingly popular' among consumers

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Cash machines 'increasingly popular' among consumers

Britons are using cash machines to acquire their hard-earned money in greater numbers than ever, new research from the UK payments association Apacs indicates.

The group's The Way We Pay: UK Cash Machines report indicates that the number of cash demands met by machines has doubled in the last decade to almost two-thirds of consumers in 2006.

This compares to just over a third of Britons who used the so-called 'holes in the wall' in 1996.

The total number of cash machine withdrawals has also increased from 1.6 billion in 1996 to 2.8 billion last year.

Other card-related cash withdrawals, through debit card cashback and counter transactions, have also mushroomed over the decade, comprising 12 per cent of cash needs in 2006, compared to eight per cent in 1996.

Sandra Quinn, director of communications at Apacs, said: "The total demand for cash in value terms is projected to see a very modest decline over the next ten years due to the increasing popularity of non-cash payments, in particular developments like contactless cards."

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