Nationwide has sent a £112 warning to clients following recent findings related to ATM and cash machine usage. The building society informed its members that the average sum withdrawn from Nationwide ATMs was £112 in 2024, according to their latest data analysis.
They noted that the use of physical currency is not only persisting but actually flourishing, with budgeting methods such as ‘cash stuffing’ becoming increasingly popular. “This is the highest amount dispensed in a week since pre-Covid,” Nationwide revealed when discussing their new analysis.
Withdrawals by non-members surged by 16 per cent, reflecting the wider effect of bank branch and cashpoint closures which have made cash access more difficult for people across the nation. Last year, Nationwide’s cash machines handled nearly 33 million withdrawals – a rise of 4.6 per cent from 2023 and a notable increase of almost 29 per cent compared to the 25.4 million seen in 2021.
Chiswick in West London and Shotton in Flintshire, Wales, saw the largest upticks in cash withdrawal activities. The report also highlighted the busiest period for cash withdrawals: the week prior to Christmas, when £97.9 million was taken out. This figure represents the most substantial weekly payout since before the pandemic, reports Birmingham Live.
During the week leading up to Black Friday, withdrawals hit £85.3m, marking a 12 per cent increase from the previous year and standing as the second-largest weekly amount disbursed since the times before Covid.
The most significant rise in cash withdrawals was noted in Chiswick, West London (up 140 per cent), Shotton, Flintshire (up 115%) and Fakenham, Norfolk (up 96%). However, many areas where Nationwide is now the last branch in town have also seen substantial increases, including Henley-on-Thames, Oxfordshire (95%), Cupar, Fife (66%) and Bromborough, Merseyside (61%).