As we move towards a digital future, we must ensure access to physical cash

We may use them less but older people and those in remote areas still deserve access to ATMs, writes Chris Stevenson

Thursday 21 October 2021 01:04
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<p>The number of times we visit cash machines has fallen but we are taking more out per visit compared to before the pandemic</p>

The number of times we visit cash machines has fallen but we are taking more out per visit compared to before the pandemic

Covid-19 has had a number of knock-on effects on society as the pandemic has reached all areas of how we live. One of these is the pace of switching to digital methods of payment.

Cash machine network Link has said that there has been up to a 40 per cent drop in visits to cash machines, with withdrawals now totalling £100m a day less than in 2019.

The maximum single payment via a contactless credit or debit card has jumped to £100. While the number of times we are visiting cash machines has fallen, we are taking more out per visit compared to pre-pandemic times, an increase from an average of £66.99 to £78.54. It makes sense – although the total amount people are taking out per month has fallen from an average of £200.97 to £157.08.

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