LINK, the UK’s ATM network reports that the first four days of December saw an increase in LINK cashMoney in physical form such as banknotes and coins. More withdrawals of £121million (7%) to total of £1.8billion, when compared to last year1.
John Howells, LINK CEO said: “These figures show that cash usage is up as consumers go out determined to enjoy the festive season. This extra moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More being withdrawn from ATMs is great news for small shops, pubs and restaurants as a lot of cash is used for general discretionary spending associated with going out and attending Christmas celebrations.”
(1) Figures adjusted to allow for days of the week