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ATMs could see record bank account withdrawals

21 December 2009 17:55:56

December should see £10.6bn in bank account withdrawals via ATMs.  image
December should see £10.6bn in bank account withdrawals via ATMs.
Around £10.6bn is expected to be withdrawn from cash machines this month as Britons plunder their bank accounts in order to fund Christmas, a supermarket bank has said.

Sainsbury's Finance predicts that the total amount exiting the UK's cash machines this month will exceed December 2008's figure by some £619m and that, on average, £237,100 will be withdrawn each minute.

The figures come from an analysis of monthly cash machine withdrawals between 2004 and 2009, which revealed that around 12.4% more money is withdrawn in December than in the average month.

Alex Blake, head of ATMs at Sainsbury's Finance, claimed that this December may set a new record.

He also advised: "Make sure you don't leave getting your cash to the last minute - why not get your spending money whilst you're doing your shopping.

"It certainly beats standing in line in the freezing cold on your night out."

A recent report by insurer Aviva claimed that Britons typically spend three days, six hours and 35 minutes shopping for Christmas presents, compared with just seven days throughout their entire lifetime looking for a pension plan or annuity.ADNFCR-2196-ID-19523931-ADNFCR ADNFCR-2196-ID-19464191-ADNFCR

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