Aberdeen is on track to go cashless quickest following 36 ATM closures in four years.
New research suggests that Aberdeen South is the area of Scotland set to go cashless the quickest, with a 36 per cent decline in ATMs between 2018 and 2022, some 36 closures overall. Online trading platform CMC Markets reviewed House of Commons data relating to the number of ATM closures across Great Britain and compared it with population figures to find the number of cash machines per 10,000 people across the country.
20 Scottish Parliamentary constituencies in Scotland on track to go cashless fastest Commenting on the findings, Michael Hewson, chief market analyst at CMC Markets, said: “During the Covid-19 pandemic, consumers were reminded that using digital payment options over cash would allow them to pay for goods and services in a safer manner. Many found this to be more convenient than withdrawing cash, and it appears to have only accelerated the already existing shift towards digital banking.
Top Money Stories Today By contrast, new data from Nationwide Building Society indicates ATM withdrawals jumped by nearly a fifth last year compared with 2021, marking the first time in 13 years that cash use has increased. It said that in recent years, the number of cash withdrawals had been steadily declining, with a particularly sharp drop seen at the start of the coronavirus pandemic.
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