News

UK ATM count at an all-time high

What's more, according to the nation's Link ATM scheme, cash use is expected to remain high through the next decade.

March 5, 2015

More evidence that cash is doing just fine, thank you — the Link ATM scheme recently reported that the U.K. is now home to more than 69,000 cash machines — up 58 percent from the 43,600 in 2003. Of this number, 50,000 (72 percent), are free to use.

The ATM is Brits' favorite means of obtaining cash, Link said. And despite a drop in cash spending in 2013 and a projected slow decline in use, cash is by no means endangered. Link projected that in 2023, U.K. consumers will still account for 251 billion pounds ($383 billion) in cash transactions — or nearly 690 million pounds ($1.05 billion) of cash spending daily.

"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," said Link CEO John Howells. "Its use is especially important for lower income groups, and is particularly significant from a financial inclusion perspective. ... Link is committed to making sure everybody has safe, reliable and easy access to their cash."