Over the course of the coronavirus pandemic in 2020, UK consumers increasingly withdrew less and less money from ATM machines. This after comparing figures from several years regarding LINK ATMs: Almost every ATM machine in the United Kingdom is a part of the LINK ATM network. Since the global outbreak of Covid-19 and the subsequent lockdown of businesses and individuals, both the number of cash withdrawals and the value of those withdrawals has plummeted to the lowest figures displayed during the period under observation.
Free to use cash machines
In 2019, around 75 percent of cash machines in the United Kingdom were free to use. Whether an ATM is free to use appears to be a very important factor as to if the machine is used to withdraw money. During 2019, free to use ATM’s accounted for 98 percent of withdrawals. The other two percent of withdrawals were made using the 15.3 thousand fee-based machines situated in the UK.
ATM’s fall across Europe
Between 2016 and 2018, the number of ATM’s in Europe has fallen by almost 14 thousand. Each ATM in Europe services an average of over 64 thousand individuals. The decrease in Automated Teller Machines in Europe has been a direct cause of the rise in cashless payments. Across the continent, people are choosing to use cards and mobile payments as their preferred process instead of the incumbency of using physical cash.
Monthly number of transactions at LINK ATMs in the United Kingdom (UK) from January 2014 to March 2020
(in millions)
Characteristic
Number of transactions in millions
Jan 2021
98.5
Dec 2020
128.6
Nov 2020
118.1
Oct 2020
137.8
Sep 2020
138.6
Aug 2020
141.4
Jul 2020
139.2
Jun 2020
116.7
May 2020
110.4
Apr 2020
91
Mar 2020
154.93
Feb 2020
180.99
Jan 2020
185.07
Dec 2019
204.24
Nov 2019
207.95
Oct 2019
213.9
Sep 2019
211.01
Aug 2019
225.06
Jul 2019
225.67
Jun 2019
220.66
May 2019
231.7
Apr 2019
220.25
Mar 2019
231.81
Feb 2019
206.8
Jan 2019
209.31
Dec 2018
234.5
Nov 2018
236.63
Oct 2018
243.09
Sep 2018
240.09
Aug 2018
250.49
Jul 2018
252.72
Jun 2018
256.68
May 2018
259.35
Apr 2018
241.72
Mar 2018
251.39
Feb 2018
222.92
Jan 2018
228.02
Dec 2017
253.92
Nov 2017
255.31
Oct 2017
262.83
Sep 2017
262.14
Aug 2017
266.03
Jul 2017
269.37
Jun 2017
263.68
May 2017
269.46
Apr 2017
261.98
Mar 2017
269.23
Feb 2017
234.39
Jan 2017
236.86
Dec 2016
269.31
Nov 2016
261.95
Oct 2016
276.82
Sep 2016
270.71
Aug 2016
269.18
Jul 2016
275.11
Jun 2016
263.21
May 2016
271.7
Apr 2016
263.89
Mar 2016
264.01
Feb 2016
243.28
Jan 2016
241.62
Dec 2015
266.5
Nov 2015
259.68
Oct 2015
280.7
Sep 2015
264.14
Aug 2015
269.9
Jul 2015
276.18
Jun 2015
267.46
May 2015
277
Apr 2015
261.11
Mar 2015
263.35
Feb 2015
235.16
Jan 2015
241.49
Dec 2014
261.87
Nov 2014
263.64
Oct 2014
275.16
Sep 2014
265.26
Aug 2014
268.1
Jul 2014
272.3
Jun 2014
263.61
May 2014
277.01
Apr 2014
259.27
Mar 2014
268.43
Feb 2014
233.15
Jan 2014
241.72
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VocaLink. (February 12, 2021). Monthly number of transactions at LINK ATMs in the United Kingdom (UK) from January 2014 to March 2020 (in millions) [Graph]. In Statista. Retrieved October 05, 2024, from https://www.statista.com/statistics/445076/transactions-at-atms-in-link-network-in-the-united-kingdom/
VocaLink. "Monthly number of transactions at LINK ATMs in the United Kingdom (UK) from January 2014 to March 2020 (in millions)." Chart. February 12, 2021. Statista. Accessed October 05, 2024. https://www.statista.com/statistics/445076/transactions-at-atms-in-link-network-in-the-united-kingdom/
VocaLink. (2021). Monthly number of transactions at LINK ATMs in the United Kingdom (UK) from January 2014 to March 2020 (in millions). Statista. Statista Inc.. Accessed: October 05, 2024. https://www.statista.com/statistics/445076/transactions-at-atms-in-link-network-in-the-united-kingdom/
VocaLink. "Monthly Number of Transactions at Link Atms in The United Kingdom (Uk) from January 2014 to March 2020 (in Millions)." Statista, Statista Inc., 12 Feb 2021, https://www.statista.com/statistics/445076/transactions-at-atms-in-link-network-in-the-united-kingdom/
VocaLink, Monthly number of transactions at LINK ATMs in the United Kingdom (UK) from January 2014 to March 2020 (in millions) Statista, https://www.statista.com/statistics/445076/transactions-at-atms-in-link-network-in-the-united-kingdom/ (last visited October 05, 2024)
Monthly number of transactions at LINK ATMs in the United Kingdom (UK) from January 2014 to March 2020 (in millions) [Graph], VocaLink, February 12, 2021. [Online]. Available: https://www.statista.com/statistics/445076/transactions-at-atms-in-link-network-in-the-united-kingdom/