Breaking down further the data on cash withdrawals at Nationwide’s ATMs, taking cash was predictably busiest in the week before Christmas - up nearly two per cent on last year for a total of £97.9m - but also the week leading up to Black Friday saw a 12 per cent rise year on year.
Nationwide Building Society have released a report showing cash usage on the rise for a third year in a row, with close to 33 million cash withdrawals made by bank users during 2024, representing a 10 per cent increase on last year.
The reasons for cash use being back on an uptrend are not completely clear, but several potential reasons have been highlighted including branch closures and a viral social media trend which people have used to aid their attempts at budgeting.
reporting that more than 6,000 branches across UK high streets closed between 2015 and 2024, a rate of over 50 per month and accounting for in excess of 60 per cent of all branches which were open at the start of that period.
A cashless society is not yet upon us - and the UK is in fact seeming to be inching the other way again, according to a report released by Nationwide, with cash withdrawals at ATMs on the rise.
