European Championship cash dash
Football fans are set for a ‘cash dash' on the days of England fixtures at the European Championships, according to Sainsbury's Bank. New analysis by the supermarket bank reveals a 14% increase in the amount of cash withdrawn from its ATM network of cash machines on the day of an England international and Sainsbury's Bank expects this figure to be even higher during the European championships.
Sainsbury's Bank analysed cash withdrawals from its ATM network on the days of England's recent friendly international football matches and compared it to the average withdrawal figures for the corresponding day in the previous three weeks. The number of withdrawals increases by an average of six per cent when England plays an international game.
Alex Blake, Head of ATMs at Sainsbury's Bank commented: "We see a spike in ATM withdrawals when England play an international football match indicating fans are taking out cash to pay for food and drink while enjoying the game. Paying with cash can be quicker than card transactions during a game, so fans may be switching to notes to ensure they don't miss a second of the action.
"Following a solid performance against France we expect the increase in money and number of withdrawals to be far greater on Friday when they play Sweden and indeed throughout the group stages and hopefully beyond, during this European Championship."