Nationwide has issued a £112 alert to customers after its latest ATM and cash machine findings. Nationwide told members the average amount of cash taken out on each withdrawal from its ATMs was £112 in 2024, after crunching the numbers.
Nationwide say the use of coins and paper money is ‘thriving’ with budgeting trends such as ‘cash stuffing’ is on the rise. “This is the highest amount dispensed in a week since pre-Covid,” said the building society in a new analysis
Withdrawals by non-Nationwide customers were up 16 per cent, which it said highlighted the impact of the bank branch and ATM closures that have made it harder for communities up and down the country to access cash and do their banking.
BREAD MORE Blue Badge holders face £1,000 fine under plan to ‘tackle’ trend
The building society saw nearly 33 million withdrawals made from its ATMs last year, a 4.6 per cent increase on 2023 and up almost 29 per cent on 2021’s figure of 25.4 million. The biggest increases in cash withdrawals were recorded in Chiswick in west London, and the town of Shotton in Flintshire in Wales, the building society said.
The busiest time of the year for cash withdrawals was the week before Christmaswhere £97.9 million was withdrawn – this is the highest amount dispensed in a week since pre-Covid. The week leading up to Black Friday saw £85.3m withdrawn – a 12 per cent year on year increase and the second highest weekly dispense since pre-Covid.
The biggest increase in cash withdrawals were recorded 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 sizable increases, including Henley-on-Thames, Oxfordshire (95%), Cupar, Fife (66%) and Bromborough, Merseyside (61%). See notes to editor for top ten biggest increases.