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Brits bank through ATMs

15 September 2006
Cash-happy Brits make more ATM withdrawals than any other country in Europe, a new report from Apacs has found.

The payments association notes that the UK also leads on the number of cash machines, with 58,000 ATMs registered last year, more than double the number available in 1999.

Last year there were 86 withdrawals every second from one of these machines, which comes to 42 withdrawals each, or over 2.7 billion in total.

Sandra Quinn, director of communications for Apacs, said: "Of course, as you'd expect from profit-making businesses and because cash machines cost money to place, maintain and keep secure, they levy a charge at many of their machines.

"But the key for us as consumers is that we know when we are paying for that convenience so we can make a choice. Our latest figures confirm that we know exactly which machines charge and vote with our feet," she added.

The popularity of ATMs has also seen a huge reduction in the proportion of cash transactions done in branches, with - by value - 97 per cent of cash transactions being made at a cash machine.

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