Record set for cash withdrawals

Consumers withdrew a record amount of cash over the Bank Holidaydespite the gloomy weather.
By The Newsroom
Published 7th May 2010, 20:59 BST
Updated 7th May 2010, 20:59 BST

New records were set for both the value and volume of transactions carried out between Friday April 30 and the end of Monday May 3, according to cash machine network operator Link.

Friday April 30 was the busiest day ever for cash withdrawals from Link ATMs, with 590m withdrawn, beating the previous record set on Christmas Eve last year by 25m.

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Friday lunchtime was also the busiest time of the week for cash machine usage, with more than 1.1 million transactions processed between 12pm and 1pm, the equivalent of nearly 20,000 a minute, also a new high.

A total of 13.4 million transactions were processed during the whole of Friday, peaking at 433 per second at 12.10pm.

Cash withdrawals were also high on Saturday May 1 at 460m, but they reduced to 246m Sunday and to 244m on Monday.

Overall, a record of 1.54bn was withdrawn over the entire Bank Holiday weekend, 9 per cent more than during the same period of 2009.

Edwin Schooling Latter, managing director of Link Scheme, said, "Cash machine usage continues to grow, with new records for cash dispensed set last weekend."