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Cash makes a Christmas comeback

Wed, 23 Dec 2009

Cash is making a comeback over the Christmas period, with more people looking to withdraw money from ATMs this year than they did last.

Research conducted by Tesco Bank suggests cash withdrawal activity is set to peak today (Wednesday, December 23rd), with ATM transactions expected to be 20 per cent higher than they were this time last year.

As such, the value of cash dispensed by Tesco's own ATMs over the Christmas period - of which there are 3,000 up and down the country - is expected to reach close to £1 billion.

"It's already shaping up to be a cash Christmas for most Brits this year and we're working hard to ensure our network of cash machines is well stocked to cope with record levels of demand," commented Stewart Gow, Tesco Bank's head of ATMs.

One of the Tesco ATMs in Wolverhampton is set to be the hardest-working over Christmas, with 550 Christmas shoppers expected to join the queue for cash today alone.

Earlier this month, Barclays claimed that a record £23 billion would be spent on debit cards throughout December, which would be four per cent up on levels seen in 2008.
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