News

South African ATM deployer reports sharp drop in ATM cash withdrawals in May

June 5, 2011

Spark ATM Systems' Spark Cash Index today reported a sharp drop in the average ATM cash withdrawal in May compared with April.

The average cash withdrawal in May was R406 (U.S. $59.82) compared with R423 (U.S. $62.32) in April, reported the Spark Cash Index, which measures cash withdrawals from 1,200 Spark ATMs deployed in South Africa.

"This drop in May is consistent with previous years, but much more pronounced this year," said Marc Steinberg, managing director of Spark ATM Systems, which is based in Cape Town. "The increase in cash withdrawals in April was extraordinarily high in comparison with previous years' Easter holiday spike due mostly to the combined Easter and Workers Day holidays this year."

April 2011's withdrawal figures were up 4.78 percent compared with April 2010, and May 2011's withdrawal average was up 1 percent compared with May of last year.

"What is positive is that these figures are up on last year, albeit only slightly, consolidating the general positive month-on-positive trend in the Spark Cash Index," said company officials.

Spark ATM Systems deploys ATMs in convenience stores, petroleum stations, retail locations, and leisure and hospitality venues.