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Cash withdrawals in the UK totalled £1.53 billion in the week to November 2, £16 million more than in the same week a year earlier despite 1.5 million fewer transactions. Link says people are taking out larger amounts as the government urges households to keep three days of essential supplies for emergencies. The figures do not establish that the advice alone caused the increase.
Cash withdrawals in the UK reached £1.53 billion in the week to November 2, according to figures from Link, as government advice to prepare for emergencies appears to coincide with people taking larger amounts from cash machines. The total was £16 million above the same week last year, despite 1.5 million fewer transactions, while Link said average withdrawals were approaching £110.
Link, which connects the country’s network of cash machines, said withdrawals were reaching record levels on some days. Its director of strategy, Graham Mott, said people were increasingly taking extra cash when they visited an ATM. The usual withdrawal is about £90, he said, compared with averages now nearing £110.
The weekly total of £1.53 billion was recorded during the government’s “Be Ready” campaign, which asks households to keep three days of essential supplies for emergencies including war, cyber attacks or natural disasters. The campaign was issued last month. The report also described increased purchases of items such as bottled water, toilet rolls and wind-up radios, and said online grocer Ocado had temporarily run out of some tinned soups.
The cash figures indicate a higher total value of withdrawals, not necessarily a rise in the number of people withdrawing money. There were 1.5 million fewer transactions than in the equivalent week a year earlier, suggesting that larger withdrawals contributed to the higher total. The report does not provide a detailed breakdown of individual transactions or identify how much of the increase is directly linked to emergency preparations.
Why Households Are Holding More Cash
Keeping some physical money available can help households pay for necessities if card networks, electronic payment systems or cash machines are disrupted. The government’s preparedness advice includes holding notes and coins alongside supplies, reflecting the possibility that a crisis could interrupt services people rely on for daily purchases.
The figures also show that cash remains relevant even as use has declined over the longer term. Link’s data point to a recent increase in the value withdrawn, but they do not show that every household is stockpiling money or that the country faces an imminent emergency. The distinction matters: the reported rise is a change in withdrawal activity, not evidence that a crisis has begun.
For consumers, the development raises practical questions about how much cash to keep and whether local access will be available if demand rises. The report gives no recommended cash amount and does not say that people should withdraw more than they need. Link has described cash as one part of a resilient payment system, particularly for people who use it to manage budgets or have limited access to alternatives.
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Cash Use Has Fallen Over Time
ATM use has fallen substantially over the past decade as people have shifted towards contactless cards and smartphone payments. The report says the number of ATM transactions was 1.3 billion last year, down from 3.2 billion a decade earlier. The number of cash machines also declined, from more than 70,000 to around 43,000, as banks closed branches.
Even amid that long-term decline, £76 billion was withdrawn in 832 million transactions last year, according to the report. A recent Link survey found that 61 per cent of respondents had used an ATM in the previous fortnight. Link said older people and residents of rural areas were among the heaviest users. These figures provide context for why access to cash remains a concern, but they do not measure the effect of the current government campaign.
Mott said cash use was declining over the long term but remained useful for budgeting and for people who prefer physical notes and coins. He described cash as an important part of a resilient payment system. The current weekly withdrawal figures sit against that broader trend rather than reversing it on their own.
“We’re definitely seeing more people take out an extra bit of cash when they do visit an ATM, with averages approaching £110.”
— Graham Mott, Link’s director of strategy
What the Withdrawal Figures Cannot Show
The figures do not establish why individual customers withdrew more cash, or how much of the weekly increase is attributable to the “Be Ready” campaign. They also do not show whether the higher withdrawals continued after November 2 or whether the reported high levels on some days persisted.
Link’s statement that averages were approaching £110 is not accompanied in the report by a precise date range or a full account of how that average was calculated. The weekly total is compared with the same period last year, but the report does not provide a longer series that would show whether £1.53 billion is exceptional by seasonal or historical standards. No evidence in the report indicates that payment systems or cash machines have failed.
Whether Higher Withdrawals Continue
The next useful indicator will be whether Link’s subsequent figures show that withdrawal values remain elevated after the week to November 2. Further data could clarify whether people are taking larger sums while making fewer ATM visits, and whether the pattern lasts beyond the initial response to the government campaign.
The “Be Ready” advice remains focused on keeping three days of essential supplies for emergencies. The report gives no new timetable for changes to that guidance, nor does it set out a recommended amount of cash for households to hold. For now, the confirmed development is a higher weekly withdrawal total and Link’s account of larger average ATM withdrawals; the cause and duration remain uncertain.
Key Questions
How much cash was withdrawn in the week to November 2?
Link figures cited in the report put the total at £1.53 billion, £16 million more than in the same week a year earlier.
Were more ATM transactions made than last year?
No. The weekly total was higher even though there were 1.5 million fewer transactions than in the comparable period a year earlier.
Why are people being advised to keep cash?
The government’s “Be Ready” campaign asks households to prepare for three days of disruption from emergencies such as war, cyber attacks or natural disasters. Cash could be useful if electronic payments or cash machines are unavailable, although the report does not say those services have failed.
Does the increase prove that households are reacting to the government advice?
No. The increase coincides with the campaign, and Link says people are taking out more when they visit ATMs, but the figures do not establish that the advice caused the change.
Is cash use rising overall?
The report describes long-term declines in ATM transactions and cash-machine numbers. The latest weekly withdrawal total was higher than a year earlier, but one week of figures does not show that the longer-term trend has reversed.
Source: thisismoney.co.uk
