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Saturday 18th of September 2010

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September 9, 2010

ATM withdrawals down as debit cards take over

by Gill Montia

Story link: ATM withdrawals down as debit cards take over

Britons are increasingly using their debit cards as an alternative to cash, according to the Payments Council.

The body, which sets the strategy for UK payments systems, has also reported a fall in the number of ATMs available, as withdrawals decline.

Numbers fell by 440 between April and June, while withdrawals from cash machines were down 3.2%, or £1.6 billion, compared with the same period of 2009.

Cheque usage also declined, with the Council having already named 31st October 2018 as the date on which payment by cheque will end.

Use of the 350-year-old system has been declining for years, falling by over 40% since 2004.

Commenting on the figures, the Council’s director of communications, Sandra Quinn, says: “We use cash less where there is an easy alternative, but we’re years away from cash falling out of fashion.”

 

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