There are now more than 69,000 cash machines in the UK – up 58% from the 43,600 ATMs that we had access to in 2003.
This increase reflects our continuing fondness for paying with cash in various situations, coupled with the fact that the ATM is our favourite method for getting hold of our £5, £10 and £20 notes.
In 2013, cash spending in the UK fell slightly following two years of increases and although this slow decline is set to continue it does not signify the end of cash. In fact, in 2023, it is forecast that we will still spend £251 billion* in cash transactions in the UK - which equates to nearly £690 million of cash spending a day, for every day of the year.
The ATM continues to be the most popular way for us to get hold of our cash. This continuing demand, combined with an industry initiative to increase the number of ATMs in deprived areas, has seen the number of cash machines in the UK rise to an all-time high. There are now over 69,000 ATMs in the UK of which more than 50,000 (72%) of them are free-to-use.
John Howells, CEO of the LINK ATM Scheme commented:
“Cash is a vital part of the way we lead our lives and it is certainly going to endure over the next decade and beyond. Its use is especially important for lower income groups, and is particularly significant from a financial inclusion perspective. Cash machine numbers are now at a record high and LINK is committed to making sure everybody has safe, reliable and easy access to their cash.”