CASH withdrawals has more than halved across the UK during lockdown as consumers switch to shopping online and abandon coins and notes over hygiene fears.
But consumers are increasing the amount they take out from around £65 per withdrawal £82.
And the research by the LINK, the overseers of the UK's largest cash machine network reveals that across the UK nearly one in four are still using the same or more cash.
LINK has pledged to ensure good access to cash for those who need it despite the decline.
The World Health Organisation has said that handling cash does not pose more of a health risk than touching any other surface.
But it it is felt by some that the coronavirus crisis will change our habits, leading to a sharp reduction in the use and availability of cash even after the Covid-19 risks decline.
READ MORE: The free cash machine scandal: how ATM loss is affecting your area
The new data comparing consumer behaviour between March and April produced by YouGov and commissioned by LINK suggests that there are still 11 million LINK cash withdrawals a week worth £1 billion.
Three in four consumers say they are now using less cash, with over half (58%) using cash a lot less.
And three in four say they think the Coronavirus crisis will continue to affect their future use of cash over the next six months.
The new data will lead to new fears of the continued demise of the ATM as the Herald revealed in February that the country had lost 158 free-to-use cash machines in the space of just one month with 120 of them now charging customers for the right to withdraw their money.
At the end of 2019 there were 4437 free-to-use ATMs in Scotland – a loss of nearly 1000 in two years. Meanwhile there were 1420 charging ATMs – a rise of nearly 500 over two years.
But LINK has insisted that even if cash use is declining it will still ensure good access to it.
LINK’s chief executive John Howells said: “The fact people are using less cash shouldn’t come as a surprise because with cafes, pubs, restaurants and some shops closed, people are travelling less and there are far fewer opportunities to spend in the first place. However, LINK ATMs are still issuing around £1 billion per week to 11 million people. Even if this crisis does lead to less cash use in the longer term, people should be reassured that LINK and its members will continue to ensure good access to all who still rely on it.”
The new research shows that more consumers are turning to contactless and digital payments during the Coronavirus crisis, with almost three quarters (72%) suggesting the Coronavirus will affect their future use of cash.
Over the past month, data from LINK show ATM transaction volumes, on average, have dropped around 60% compared to the same period last year.
Around £1bn is still being withdrawn from LINK ATMs every single week through some 11 million cash withdrawals. ATM operators are working around the clock to make sure cash machines are working and restocked with cash.
It found 14% of consumers said they are keeping more cash at home in case of emergencies and just over three in four say they think the Coronavirus crisis will affect their future use of cash over the next six months.
Around half (51%) say they will use cards more and 44% said they will use contactless/mobile payments more.
One in three said they will do more shopping online while 31% said they will use ATMs less frequently Meanwhile one in ten said they had wanted to pay in cash but that it hadn’t been accepted.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here