Sainsbury's predicts record credit card ATM use

By UK.CreditCards.com

Britons will withdraw a record amount of money from cash machines on their debit and credit cards in December, a new report suggested.

According to research by Sainsbury's Finance, ATMs will dispense £10.6 billion during December, representing a significant rise of £619 million from 12 months earlier.

The total figure equates to £341 million in withdrawals per day, £14.2 million per hour or £237,100 per minute and is the highest monthly volume for six years.

Alex Blake, head of ATMs at Sainsbury's Finance, said: "This party season, make sure you don't leave getting your cash to the last minute. Why not get your spending money while you're doing your shopping."

The credit card provider reached its conclusion after analysing trends between 2004 and 2009, finding that 12.4 per cent more cash is withdrawn in December than during a normal month.

Sainsbury's became the first major British supermarket to immerse itself in financial services when it opened a bank for trading in February 1997.

It is now believed to have over 1.5 million active customers with combined deposits worth more than £6 billion.

Published: 21 December 2009