Nationwide Building Society has recorded the first rise in ATM withdrawals for 13 years as Brits respond to the cost-of-living crisis by budgeting with physical money.
The building society saw 30.2 million cash withdrawals made from its ATMs last year - a 19% increase on 2021. However, the number is still well below the 44.6 million withdrawals in pre-pandemic 2019.
The average amount of cash withdrawn from Nationwide ATMs was £105 last year, down two per cent on the previous year but still up 25% on 2019.
When it comes to depositing cash, over the last five years the Society has seen a 34% increase in the number of times its machines are used, with the average amount deposited rising to £277 - a 37% increase on five years ago.
Otto Benz, director of payments, Nationwide, says: "For the first time in years we are seeing a natural rise in cash withdrawals as people return to using cash to help avoid getting into debt from the rising cost of living."